Nokia says AI, cloud boosted sales in second quarter / Photo: Dimitar DILKOFF - AFP
-
Kenya's economy faces climate change risks: World Bank
-
Trump says EU to pay 'very big price' for Google fine
-
Tens of thousands flee forest infernos in France and Spain
-
Anthropic bets on cheaper AI with new model
-
Many thousands flee burning France holiday haven by road and sea
-
British sprinter Ujah denies alleged cryptocurrency fraud
-
Stock markets recover as oil retreats
-
'Cockroach' protest leaders, India govt say no breakthrough in talks
-
Autonomous fighter jets target Europe market at Farnborough airshow
-
MEXC Expands Ondo Tokenized Stock Offerings with AI Infrastructure and Mining Assets
-
Wildberries: Russia's Amazon that became a target for Kyiv
-
UN urges evacuation of 6,000 sailors stranded in Hormuz strait
-
Volkswagen profits skid on one-off costs, China competition
-
Thousands flee wildfires in southern Europe
-
South Korean tycoon ordered to pay $644m in divorce
-
Volkswagen profit plunges as carmaker weighs mass job cuts
-
Stocks suffer fresh blow as markets hit by perfect storm
-
Over 80% of Mexican exports exempt from new US tariffs
-
Trump under pressure from all sides over Chinese AI surge
-
Rosalia's Argentine fans up in arms over alleged World Cup snub
-
World Bank confirms plan to phase out China lending by 2031
-
Airbus, Boeing fly in different directions at Farnborough
-
Fields medal awarded to four young mathematicians
-
NATO to overhaul European fuel pipeline network
-
Oil soars above $100 as Middle East fears grow
-
Swelling jet fuel costs hit American Airlines outlook
-
Venezuelans turn to scrap collecting in quake-hit beach 'paradise'
-
Nigeria's Dangote raises $2.5bn to expand Africa's largest refinery
-
Oil soars to $100 on fresh Mideast attacks
-
Coal-fired power generation rising globally on Mideast war: IEA
-
AI-led boom in IPOs raises concerns about a bust
-
Venice film festival promises Pattinson, Oasis and Musk doc
-
ECB holds rates as Iran war flare-up threatens to drive prices higher
-
ASEAN calls for open straits as US-Iran war casts shadow
-
MEXC's "Kickoff Fest" Trading Event Concludes with Top Individual Reward of 27,352 USDT
-
EasyJet profits nosedive on Mideast war
-
Nestle siphons off bottled water business into joint venture
-
Nokia says AI, cloud boosted sales in second quarter
-
Hundreds hospitalised in Japan heatwave 'disaster'
-
Repsol says profit more than triples on higher oil prices
-
Renault says sales stalled in first half
-
TotalEnergies says profit doubled on Mideast war
-
EasyJet says profits nosedive on Mideast war
-
ASEAN to call for open straits as US-Iran war casts shadow
-
AI catches up with humans to score 100% at top maths contest
-
Killer whales: orcas blow fish to bits 'for fun', study finds
-
Houthis target Red Sea shipping as US hits Iran
-
Tech bounce lifts Asia stocks, oil extends gains on US-Iran fears
-
New Mideast fighting puts eurozone rate-setters on alert
-
Tearful fights, edible offerings: A glimpse into the Maradona trial
Nokia says AI, cloud boosted sales in second quarter
Finnish telecommunications equipment maker Nokia said that demand for its AI and cloud services drove sales higher in the second quarter, but restructuring charges ate into earnings.
The second quarter "demonstrates our strategy is delivering results," chief executive Justin Hotard said in a statement.
"Since we set out our plan late last year, Team Nokia has focused on maximising our opportunity in the AI supercycle. I am encouraged by the execution and progress we have made in a short period of time. We enter the second half with momentum," he said.
Nokia booked profit of 5.0 million euros ($5.7 million) for the period from April to June, down from 96 million euros a year earlier.
Second-quarter sales, on the other hand, rose by eight percent to 4.8 billion euros.
The group attributed the sharp drop in earnings to restructuring charges which are projected to amount to 800 million euros for the full year.
Underlying or operating profit -- which strip out one-off factors -- rose by 18 percent to 434 million euros.
"In the second quarter, our AI and cloud order intake was 2.8 billion euros while sales more than doubled year-on-year," said CEO Hotard.
"The strength was broad-based We expect around half of these orders to convert to revenue over the next 12 months," he continued.
X.Wong--CPN
