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|3rd February 2017, 04:49||#1|
Join Date: May 2010
Nokia does rather well
Buying Alcatel-Lucent sorted it out
Finnish network equipment maker Nokia did better than the cocaine nose jobs of Wall Street predicted this quarter.
The reason for the boost was attributed to the acquisition of Franco-American Alcatel-Lucent and cost cuts helped it in the tough networks market.
Nokia and its rivals are facing a down time as demand for faster 4G mobile broadband equipment has peaked, and upgrades to next-generation 5G equipment are still years away.
Fourth-quarter group earnings before interest and taxes (EBIT) fell 27 per cent from a year ago to €940 million due to a drop in spending by telecom operators, but beat analysts' average forecast of €788 million in a Reuters poll.
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