Nokia (NYSE:NOK) stock investors have several reasons to celebrate today following the release of the company’s earnings report for the second quarter of 2021.
Let’s dive into the details of that earnings report below!
- The good news for NOK stock today starts with its adjusted earnings per share of 9 cents.
- That matches what Wall Street was estimating for the quarter.
- It’s also a 50% increase over the company’s adjusted EPS of 6 cents from the same time last year.
- To go along with that, the company reported a revenue of 5.31 billion euros.
- That’s another boon for NOK stock as it comes in above analysts’ estimates of 5.18 billion euros for the period.
- The positives don’t stop there as Nokia also announced an update to its outlook for 2021.
- It’s now expecting revenue for the year to range from 21.7 billion euros to 22.7 billion euros.
- The company’s previous 2021 revenue guidance ranged from 20.6 billion euros to 21.8 billion euros.
- That’s looking good for NOK stock considering Wall Street’s 2021 revenue estimate of 21.72 billion euros.
Pekka Lundmark, president and CEO of Nokia, said the following in the Q2 earnings report.
“I am delighted that our strong start to 2021 continued in the second quarter. Our constant currency sales growth of 9%, combined with good cost control, enabled us to deliver a comparable operating margin of 12.8%. Even excluding a one-time software deal in Mobile Networks, we saw good underlying progress in operating margin. We are already seeing the benefits of our new operating model which helped us to deliver such a strong financial performance.”
NOK stock was up 4.6% as of Thursday afternoon.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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