Nokia beats by $0.01, reports revs in-line; reaffirms FY18 EPS guidance
- Reports Q3 (Sep) earnings of 0.06 per share, 0.01 better than the S&P Capital IQ Consensus of 0.05; revenues fell 0.8% year/year to 5.46 bln vs the 5.43 bln S&P Capital IQ Consensus.
- Co reaffirms guidance for FY18, sees EPS of EUR 0.23-0.27 vs. 0.22 S&P Capital IQ Consensus.
- Also sees EUR 0.37 - 0.42 in full year 2020
- Co also Nokia announces plans to accelerate strategy execution, sharpen customer focus, and maintain long-term cost leadership.
- Better aligns structure to strategy with improved customer focus
- Optimizes operating model to maintain competitive advantage
- Positions company for long-term 5G leadership
- Targets EUR 700m in non-IFRS annual cost savings by end of 2020
- Reaffirms commitment to full-year 2020 non-IFRS operating margin and diluted earnings per share guidance for Nokia Group
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