Nokia 3Q Beats Forecasts But Component Shortages Cost Could Weigh on Margins Next Year
28 Outubro 2021 - 3:13AM
Dow Jones News
By Dominic Chopping
Nokia Corp. on Thursday posted a forecast-beating rise in
third-quarter net profit and now expects full-year margins to land
at the top of its guidance range. However, it cautioned that both
the availability and "unprecendented" cost inflation of components
could hurt margins next year.
The company's comparable net profit for the quarter rose to 454
million euros ($526.8 million) from EUR300 million a year earlier,
as sales rose 2.0% to EUR5.4 billion.
Analysts polled by FactSet had expected comparable net profit of
EUR345 million on sales of EUR5.4 billion.
On a reported basis, Nokia net profit rose to EUR342 million, it
said.
The company said it still expects full-year net sales of EUR21.7
billion to EUR22.7 while the adjusted operating margin is expected
to be towards the upper-end of the 10%-12% range.
"The uncertainty around the global semiconductor market limits
our visibility into 4Q and 2022," Chief Executive Pekka Lundmark
said.
The company is working closely with suppliers to ensure
component availability, and with customers to ensure it can meet
their needs and mitigate the unprecedented component cost
inflation.
"Coupled with the one-offs we've benefited from this year, this
may limit our margin expansion potential in 2022," Mr. Lundmark
added.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
October 28, 2021 01:58 ET (05:58 GMT)
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