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Nokia Q1 loss widens

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Christian Fernsby |
Nokia
Nokia   Adjusted loss for the period was 116 million euros or 0.02 euro per share

Nokia reported Thursday that its first-quarter net loss widened to 442 million euros from last year's loss of 354 million euros. Loss per share were 0.08 euro, compared to loss of 0.06 euro a year ago.

Adjusted loss for the period was 116 million euros or 0.02 euro per share, compared to last year's profit of 83 million euros or 0.02 euro per share.

Operating loss was 524 million euros, wider than the previous year.

Reported net sales in the first quarter were 5.03 billion euros, 2 percent higher than last year's 4.92 billion euros. Adjusted net sales were 5.1 billion euros. On a constant currency basis, reported net sales decreased 2% and non-IFRS net sales decreased 1%.

Further, the company maintained its full year guidance for 2019 and 2020. The company still projects 2019 non-IFRS earnings per share in a range of 0.25 euros to 0.29 euros and 2020 non-IFRS earnings per share in the range of 0.37 euros to 0.42 euros.

Non-IFRS operating margin is expected to be 9 percent to 12 percent for 2019 and 12 percent to 16 percent for 2020.


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