Nokia share soared again

02. 05. 2021 Sunday / By: Robert Denes / Business / Exact time: BST / Print this page

Nokia, a telecommunications equipment provider, exceeded Wall Street’s first-quarter earnings expectations after the company’s stock rose 13.7% on Thursday.

Revenues rose 3% to € 5.08 billion ($ 6.16 billion), exceeding analysts ’expectations of $ 4.74 billion. Net income totaled $ 451.5 million, or about 7 cents per share, exceeding analysts ’consensus of 1 cent per share. This growth was driven in part by Nokia's network infrastructure and mobile network 5G profits, rather than the Mobile business, which sold below 3% in the European market in the first quarter.

All in all, Nokia’s comparable net profit increased more than 11-fold to 375 million euros ($ 455 million). This was well above analysts' estimates of an adjusted profit of € 90 million. Investment legends and co-founders of Motley Fool, David and Tom Gardner, have now revealed what they think are the top 10 stocks that investors can now buy but Nokia Corporation was not one of them. David and Tom Gardner can see that they were wrong. The pre-estimated 1% gain has risen to 7%, so the real achievable gain is 6% more than the predicted ratio!

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