Nokia (NOK) shares rose 5% early Thursday after the handset maker posted an 85% surge in third-quarter earnings.
The Helsinki-based company made 1.56 billion euros ($2.21 billion), or 40 euro cents a share, for the quarter ended Sept. 30, up from the year-ago 845 million euros, or 21 euro cents a share. Sales rose 28% from a year ago to 12.9 billion euros ($18.3 billion). Nokia said its operating margin rose to 14.6% from 11% in the second quarter, excluding special items, despite a drop in the company's average device selling price to 82 euros from 90 euros last quarter. Device volume rose 11% sequentially and 26% from a year ago to 111.7 million units. Nokia said its market share rose to 39% from 38% last quarter, as the company continues to grab share from rivals such as Motorola (MOT). The company expects its handset market share to hold steady in the fourth quarter. The company said it now expects industrywide global handset sales to hit 1.1 billion units, up from its previous target of 978 million units. Shares rose $1.55 to $38.08.>To order reprints of this article, click here: ReprintsTheStreet Premium Services For Personal Service: 877-471-2967
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
ETF Profits:
Get money-making ideas from the hottest investment vehicle on the planet. Our experts show you how to play various ETF sectors to help pump-up your portfolio. Learn More
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn MoreTo begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 12,763.05 | 1,339.00 | 2,902.74 | 19.91 |
Oil *
117.19
|
|
DOWN
127.41 |
DOWN
12.95 |
DOWN
24.49 |
DOWN
0.56 |
10 Yr
1.99%
SPDR Gold
166.91
|
|
-0.99%
|
-0.96%
|
-0.84%
|
-2.74%
|
Data delayed 20 minutes |
Connect with TheStreet