Nokia News: 13 Things Sending NOK Stock Lower Today

Nokia (NYSE:NOK) news for Thursday concerning its earnings report and change for its business has NOK stock falling hard.

a backdrop featuring the Nokia (NOK) logo with a mobile phone featuring the Nokia logo on its screen in the foreground
Source: rafapress / Shutterstock.com

Let’s take a look at what news is hammering Nokia stock today.

  • The company’s earnings report for the third quarter of 2020 wasn’t good for it.
  • That includes its adjusted earnings per share of 5 euros.
  • It’s also unchanged from the company’s adjusted EPS for the same period of the year prior.
  • NOK revenue of 5.29 billion euros also couldn’t reach analysts’ estimates of 5.38 billion euros for the quarter.
  • That represents a 7% decline from the company’s revenue of 5.69 billion euros in Q3 2019.
  • It’s also expecting adjusted per-share earnings 20 cents to 26 cents for the full year of 2020.
  • That has the midpoint matching Wall Street’s adjusted EPS estimate for the year.
  • A Nokia news release also reveals plans to change how its business operates.
  • This includes splitting its operations into four distinct divisions.
  • They are Mobile Networks, IP and Fixed Networks, Cloud and Network Services, and Nokia Technologies.
  • Nokia Technologies will see the least changes of these divisions as the company changes its business strategy.
  • The company says that these changes will go into effect on Jan. 1, 2021.
  • NOK says that it will be providing further details about its strategy change on Dec. 16 of this year.

NOK stock was down 19.5% as of Thursday morning and is down 16% since the start of the year.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2020/10/nokia-news-hits-nok-stock/.

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