Nokia posts surprise quarterly profit rise on cost cuts
FILE PHOTO: Headquarters of Finnish telecommunication network company Nokia are seen in Espoo, Finland July 26, 2018. Lehtikuva/Mikko Stig via REUTERS/File Photo
HELSINKI - Finnish telecom network equipment maker Nokia reported on Thursday a surprising rise in October-December underlying profits, driven by cost cuts. Nokia reported October-December underlying earnings rose to 0.15 euros per share from 0.13 euros a year ago, beating the 0.13 euros consensus in a Refinitiv poll.Nokia cut its outlook in October and halted dividend payouts, blaming it on its need to step up investments in 5G - news that knocked more than a fifth from its value.
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