Nokia Corp.'s (NOK) Profit Surges 44 Percent
Nokia Corp., the world's No. 1 mobile phone maker, on Thursday said that fourth-quarter net profit surged 44 percent to $2.6 billion and that it had reached its long-term goal of 40 percent market share in handset sales. The company's stock soared.
Finland-based Nokia said that net sales in October through December grew 34 percent to 15.7 billion euros ($22.9 billion), and that it sold more than 133 million handsets -- up 27 percent from the same period in 2006.
"Nokia's excellent fourth quarter contributed to a year of high growth and increased profitability for the company," Chief Executive Olli-Pekka Kallasvuo said.
In Helsinki, Nokia stock surged 12.4 percent to $33.81 after the announcement.
Finland-based Nokia said that net sales in October through December grew 34 percent to 15.7 billion euros ($22.9 billion), and that it sold more than 133 million handsets -- up 27 percent from the same period in 2006.
"Nokia's excellent fourth quarter contributed to a year of high growth and increased profitability for the company," Chief Executive Olli-Pekka Kallasvuo said.
In Helsinki, Nokia stock surged 12.4 percent to $33.81 after the announcement.
Labels: NOK, Nokia Corp.
posted by Stock Administrator @ 10:59 AM
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