Nokia Reports Q3 Earnings Miss, Lowers Profit Outlook

Nokia's shares fell 4.4% after the company reported third-quarter earnings that missed analysts' sales expectations by 9%, with net sales down 8% to €4.33 billion. The decline was primarily attributed to weaker performance in its Mobile Networks division, particularly in India, and a divestment in its Cloud and Network Services unit. Despite a 9% increase in operating profit and improvements in gross margin to 45.7%, the overall sales recovery remains slower than anticipated. Nokia has revised its full-year operating profit forecast to the lower end of its guidance range, reflecting ongoing market challenges. The CEO expressed optimism about recovery signs in some business areas, although he acknowledged continued market weakness. Analysts suggest that if consensus estimates are adjusted, earnings forecasts could be downgraded by up to 7%.