STOCKHOLM (Reuters) – Finnish telecom equipment supplier Nokia ( HE: ) on Thursday reported a 9% rise in third-quarter operating profit, and echoed rival Ericsson ( BS: ) in seeing renewed demand elsewhere.
“I am confident that we will now be able to turn around many parts of our business, even if some of the markets continue to be weak,” said Chief Executive Officer Pekka Lundmark in a statement.
Nokia maintained its full-year outlook and said it expects a sharp acceleration in fourth-quarter growth in its Infrastructure network business.
Earnings before interest and tax (EBIT) rose to 454 million euros ($492.73 million) from 418 million euros last year, beating the 424 million euros expected by analysts in an LSEG survey.
Comparable gross margin increased to 45.7% from 40.8% helped by cost reductions and as it sold more equipment in high-income markets.
Net sales fell 8% to $4.33 billion euros, mainly due to lower sales in India. Demand from Indian customers has fallen sharply this year after a surge in development last year.
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