Nokia Cuts Sales Guidance as Market Uncertainty Continues
By Dominic Chopping
Nokia cut its full-year sales guidance as the market remains uncertain with telecom operators continuing to hold back on investing in new network equipment.
The Finnish telecommunications company said Thursday that it is tracking toward the mid-point or slightly below the mid-point of its operating profit guidance.
"We believe the industry is stabilizing and given the order intake seen in recent quarters we expect a significant acceleration in net sales growth in the second half," said Chief Executive Pekka Lundmark.
"While the dynamic is improving, the net sales recovery is happening somewhat later than we previously expected."
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
July 18, 2024 01:43 ET (05:43 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks