STOCKHOLM (Reuters) -Finland’s Nokia on Thursday reported a stronger than expected 38% rise in fourth-quarter adjusted operating profit helped by higher sales of telecom equipment to mobile operators in North America and India, and forecast an upbeat 2025.
Net sales rose 10% to 5.98 billion euros ($6.23 billion), beating estimates of 5.74 billion euros.
The company said sales at its network Infrastructure business rose 17% due to a strong recovery in demand from communication service providers, notably in North America.
“I am optimistic that the improving market trends we are now seeing will persist into 2025,” CEO Pekka Lundmark said in a statement.
Nokia and its Nordic rival Ericsson have seen double-digit growth in North America due to a rebound in demand after years of weakness. Demand from Indian clients, which dropped significantly after rapid growth in 2023, is also recovering.
Comparable earnings before interest and tax rose to 1.14 billion euros, beating the 960 million euros expected by analysts in an LSEG poll.
Nokia set a full-year profit outlook of between 1.9 billion euros and 2.4 billion euros, compared with estimates of 2.13 billion euros.
($1 = 0.9597 euros)
(Reporting by Supantha Mukherjee in Stockholm, editing by Terje Solsvik)
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