Finnish telecom network equipment maker Nokia reported an unexpected rise in its first-quarter underlying profit on Friday despite the COVID-19 crisis, while its new Chief Executive Officer Pekka Lundmark takes over this weekend.
) reported an unexpected rise in its first-quarter underlying profit on Friday despite the COVID-19 crisis, while its new Chief Executive Officer Pekka Lundmark takes over this weekend.
Nokia, which had warned of a weak second quarter due to the virus, upgraded its forecast for 2020 underlying earnings per share to between 0.2 and 0.3 euros from 0.18 to 0.28 euros. Nokia-level revenue was down in the quarter, with the majority of that the result of COVID-19 as well as a sharp decline in China, its outgoing Chief Executive Officer Rajeev Suri said in a statement.
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