This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Nokia Swings to Profit in Third Quarter

Updated from 6:17 a.m. EDT

ESPOO, Finland ( TheStreet) -- Nokia (NOK - Get Report), the handset maker, said third-quarter operating profit swung to €403 million ($564.6 million) from a year-earlier loss of €426 million as net sales rose 5%.

Nokia said total mobile device volume in the third quarter was 110.4 million units, up 2% from last year but down 1% sequentially.

Net sales were €10.3 billion vs. €9.81 billion last year.

Nokia said net sales of devices and services in the third quarter were €7.2 billion, up 4% from last year and 6% sequentially. The company said it expects devices and services net sales to be between €8.2 billion and €8.7 billion in the fourth quarter.

Nokia said it expects its mobile device volume market share to be slightly down in 2010 from last year. Nokia previously expected its mobile device volume market share to be flat in 2010.

"Our company faces a remarkably disruptive time in the industry, with recent results demonstrating that we must reassess our role in and our approach to this industry," said Nokia CEO Stephen Elop, in a statement Thursday.

-- Written by Joseph Woelfel

>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to:

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
NOK $7.00 -0.64%
AAPL $111.96 2.20%
FB $93.11 0.69%
GOOG $642.46 0.52%
TSLA $221.57 -2.30%


Chart of I:DJI
DOW 17,048.95 -1.80 -0.01%
S&P 500 2,013.43 +15.91 0.80%
NASDAQ 4,816.1370 +5.3490 0.11%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs