Finnish telecom equipment maker Nokia has reported quarterly operating profit ahead of market expectations, boosted by strong demand for 5G gear from phone companies.
Second-quarter comparable operating profit rose to €714 million from €682 million last year, beating the €636.52 million mean forecast of 11 analysts polled by Refinitiv.
However, comparable operating margin fell to 12.2% from 12.8% due to timing effects of contract renewals and a one-off software deal last year.
Network infrastructure grew 12% in constant currency in the quarter, driven by strong demand in both fixed and submarine networks.
Net sales grew 11% to €5.87 billion, beating estimates of €5.60 billion.
