Nokia Earnings Rise, But Disappoint Analysts

CNet:

“In Q1, Nokia delivered both year-on-year net sales and operating profit growth,” Chief Executive Officer Olli-Pekka Kallasvuo said in a statement. “We continue to face tough competition with respect to the high end of our mobile device portfolio, as well as challenging market conditions on the infrastructure side.”

Wall Street’s reaction to the news: a 13 percent drop in Nokia’s stock.

★ Thursday, 22 April 2010