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Nokia Q3 Profit Climbs

Nokia Corp. (NOK) reported that its third-quarter profit attributable to equity holders of the parent climbed to 342 million euros or 0.06 euros per share from 193 million euros or 0.03 euros per share last year.

Comparable profit attributable to equity holders for the quarter rose to 454 million euros or 0.08 euros per share from the prior year’s 300 million euros or 0.05 euros per share, primarily driven by the increase in comparable operating profit and a net positive fluctuation in financial income and expenses, partially offset by an increase in income tax expenses, reflecting higher profit before tax.

Net sales for the third-quarter increased about 2% year-over-year to 5.40 billion euros, driven by continued strength in Network Infrastructure, and double-digit growth in both Cloud and Network Services and Nokia Technologies, balanced by a decline in Mobile Networks.

The company reiterated full year 2021 guidance for net sales of 21.7 billion euros – 22.7 billion euros and comparable operating margin of 10-12% and now expects to be towards upper-end of the margin range considering continued strong performance.

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