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Thursday, January 29, 2015

Nokia beats profit forecasts, lifted by N. America sales, (NASDAQ: ERIC)

Finland's Nokia on Thursday reported stronger-than-expected quarterly profits for its core network equipment business on the back of network roll-outs for faster 4G mobile services in North America.Nokia, which ranks third in the global network gear market after Ericsson and Huawei HWT.UL> said its equipment unit's core operating profit rose to 470 million euros ($530 million) in the fourth quarter, or 14 percent of sales, from 397 million euros in the previous quarter.Analysts in a Reuters poll had on average expected a profit of 415 million euros and a margin of 12.4 percent.The network unit, previously a troubled joint venture with Siemens, in past years divested non-core activities and cut thousands of jobs, and sharpened its focus to the mobile broadband networks business.

Telefonaktiebolaget LM Ericsson (Ericsson) is an information and communications technology (ICT) solutions provider. Shares of ERIC fell by 1.32% or $-0.16/share to $11.98. In the past year, the shares have traded as low as $11.20 and as high as $13.61. On average, 3352160 shares of ERIC exchange hands on a given day and today's volume is recorded at 6968155.