Nokia: Rays of Hope Amid the Gloom
AP News ( 2009-10-16 09:03:47 )
There's not much to cheer about in third-quarter results from mobile phone giant Nokia that included an unexpected net loss of 559 million [$834 million] -- the first since the Finnish company started reporting quarterly results in 1996 -- and a nearly 20% decline in revenues year-over-year. That's 2.43 billion [$3.62 billion] less on the top line for the quarter. Investors were certainly in no mood to celebrate: By day's end in Helsinki trading, Nokia (NOK) shares were down nearly 11%, to 9.18, and they fell even more in New York.
Copyright 2009  BusinessWeek
