Nokia reported 2021Q2 results

Earlier today, Nokia reported 2021Q2 results. Net sales in constant currency net sales up 9% year-on-year, driven by growth across all business groups, with particular strength in Network Infrastructure. Reported net sales increased 4%.  Comparable operating margins were 12.8% (reported 9.1%).

 As a result of their first half results, Nokia revised their full year 2021 Outlook, including net sales expected to be EUR 21.7bn to 22.7bn (previously EUR 20.6bn to EUR 21.8bn) with comparable operating margin in the range of 10-12% (previously 7-10%).  The market liked the results, with share prices up 6.7% in Helsinki, and almost the same in the pre-market for the Nasdaq ADRs at the time of writing of this article. 

Nokia’s Pekka Lundmark, President and CEO said “The highlight of the second quarter was the Mobile Networks launch of our new AirScale baseband and radio products with up to 75% better power efficiency helping to reduce our environmental footprint and the lightest 32TRX massive MIMO active antenna in the market. In Network Infrastructure we sustained double-digit growth and have a series of product launches ahead in the second half to further strengthen our differentiation. Cloud and Network Services is making good progress on its portfolio rebalancing and Nokia Technologies continues to scale with two licensing agreements with automotive manufacturers including Daimler.”

The actual Nokia earnings press release is here. For past articles on Nokia, see here.

TruePulse buys and sells central office telecommunication equipment of Nokia (Alcatel-Lucent) for numerous manufacturing discontinued platforms such as the 5ESS, the DACS IV, the FT-2000 and the Metropolis DMX.