Finland’s telecommunication giant Nokia published the financial report for the first quarter of 2021 today. The Finns head a strong quarter with growth of sales and profits, while also performing above analysts’ expectations, which caused the stock price to go up 10% on the New York Stock Exchange.
Nokia reported 5.076 billion euro in net sales – a growth of 3% compared to the first quarter of 2020. The reported profit is 263 million euro, which is a great improvement compared to the loss of 115 million euro reported in the same period last year. Nokia also mentioned solid liquidity position with 3.7 billion euro of net cash and 8.8 billion euro of total cash.
The market reacted positively to Nokia’s earnings report with the stock price rising above 10% today at the NYSE. You can check the full report as PDF here.
Do check Nokia’s CEO talking about the Q12021 results in 60 sec