Nokia Corp. has raised its outlook for its fourth quarter in sales and profits, noting that it performed above its previous guidance. The upbeat picture came not only from its handset sales but also its network division.
“The strong seasonal development in both Nokia Mobile Phones and Nokia Networks exceeded even our own expectations,” said Jorma Ollila, chairman and chief executive of the company.
Network sales in the fourth quarter rose higher than estimated to $2.17 billion in contrast to a guidance of $1.7 billion. Its phone sales jumped for the fourth quarter to $8.9 billion, a 4-percent boost from a year earlier.
This will enhance its earnings per share to between 35 cents to 37 cents as against 30 cents to 31 cents.
Nokia’s stock price was up about 13 percent at press time on the news.
