Quick heads-up!! Nokia’s Q3 results are out and here are the highlights and positives,
- Nokia has reported net profitability of $162 million, which has been shared by profitable NSN and Here. This is really good sign as Here has contributed to earnings positively for the first time.
- Lumia volume has grown by 19% QOQ to 8.8 million. We predicted 9.7 million. Getting closer!!
- Mobile shipments grown by 6% QOQ to 64.6 million. Full-touch Asha sales up to 5.9 million
- One really big positive is Lumia volume growth by 180% QOQ in North America which will be primarily contributed by USA sales. Lumia volume for NA stand at 1.4 million in Q3.
Some highlights from the press release,
Nokia Group achieved underlying operating profitability for the fifth consecutive quarter, with a Q3 non-IFRS operating margin of 3.8%, driven by strong performances by Nokia Solutions and Networks (NSN) and HERE.
Nokia Group ended Q3 with a strong balance sheet and solid cash position, with gross cash of EUR 9.1 billion and net cash of EUR 2.4 billion.
Excluding the acquisition of Siemens’ stake in NSN for EUR 1.7 billion, Nokia Group net cash was approximately flat sequentially. At the end of Q3 NSN’s contribution to Nokia Group gross and net cash was EUR 2.7 billion and EUR 1.5 billion, respectively. –
NSN achieved underlying profitability for the sixth consecutive quarter, with Q3 non-IFRS operating margin of 8.4%, reflecting strong gross margin and continued progress relative to its strategy in a seasonally weak quarter.
HERE achieved Q3 non-IFRS operating margin of 9.5%, reflecting solid gross margin and operational efficiency. – Devices & Services achieved Q3 non-IFRS operating margin of negative 1.6%.
