Nokia’s slowdown

Posted on April 17, 2008
Filed Under Cell Phones |

Nokia exceeded Wall Street the first quarter earnings forecast, but its shares were dented Thursday from a warning on the likely impact of an economic slowdown.

The Finnish mobile giant a profit for the quarter of 1.22 billion euros, or 32 euro cents per share, representing an increase of 25% compared to the year-ago quarter. Adjusted for one-time items, Nokia, said it earned 38 euro cents per share, 2 cents better than expectations.

Revenues for the quarter in the last month were 12.7 billion by 28% over the previous year. These results were in line with expectations.