Shares of Nokia Corp. NOK, -1.35% NOKIA, -19.90% slid 23% in early trading Thursday after the Finnish telecom equipment maker lowered its guidance for this year and next. Nokia said the cuts were "primarily due to margin pressure, additional 5G investments and additional digitalization investments." The company also cited high costs linked to first generation 5G products, profitability challenges in China and pricing pressure in early 5G deals. Underlying earnings in the third quarter fell to 0.05 euros from 0.06 euros in the year-earlier period. Net sales rose to EUR5.686 billion ($6.34 billion), compared to EUR5.458 billion in the same period a year ago.
https://www.marketwatch.com/story/nokia-shares-drop-24-after-cutting-2019-2020-outlooks-2019-10-24
2019-10-24 07:39:00Z
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