Nokia sees stronger second half after second-quarter miss
"Considering these two headwinds, we decided it was prudent at this point to lower our comparable operating profit outlook," Hotard said in a statement.
Nokia also confirmed the preliminary figures for the second quarter, which had missed market expectations on Tuesday.
Its operating profit, which excludes certain charges and asset revaluations to make it comparable with last year's results, fell 29 per cent to 301 million euros ($354.34 million) in the quarter, while revenue grew marginally to 4.55 billion euros.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Times
an hour ago
- Business Times
BOJ may paint less gloomy view, signal rate-hike resumption
[TOKYO] The Bank of Japan (BOJ) is set to hold off raising interest rates on Thursday (Jul 31) but may offer a less gloomy view on the outlook after Tokyo's trade agreement with the US last week, signalling rate hikes may resume later this year. Receding global trade tensions following Sunday's agreement between the US and the European Union add relief for BOJ policymakers on the outlook of Japan's export-heavy economy. But the BOJ is likely to warn of lingering uncertainty on how US tariffs affect business activity with the hit to exports seen intensifying later this year, analysts say. 'It's very big progress that reduces uncertainty for Japan's economy – but obviously, some uncertainty remains,' BOJ Deputy Governor Shinichi Uchida said last week on the Japan-US trade deal. Uchida noted questions around how soon Washington strikes trade deals with other countries, how the tariffs affect domestic and global economies and how long it could take for the tariffs' effects to be seen in hard data. At the two-day meeting ending on Thursday, the BOJ is widely expected to keep short-term interest rates steady at 0.5 per cent. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Markets are focusing on the bank's quarterly outlook report and Governor Kazuo Ueda's post-meeting news conference for clues on the timing of the next rate hike. A Reuters poll, taken before last week's Japan-US trade deal announcement, showed a majority of economists expect the BOJ to raise rates again by year-end. In the quarterly report, the BOJ is likely to revise up this fiscal year's inflation forecast due to persistent rises in rice and other food costs, sources have told Reuters. The BOJ may also tweak its current view that risks to the price outlook were skewed to the downside, and offer a less gloomy view on the economy compared with the current one focused on tariff-induced risks, according to separate sources. The board is likely to maintain its view that inflation will durably hit its 2 per cent target in the latter half of its three-year projection period running through fiscal 2027, they said. In current projections made on May 1, the BOJ projects core consumer inflation to hit 2.2 per cent in fiscal 2025, before slowing to 1.7 per cent in 2026 and 1.9 per cent in 2027. Japan struck a trade deal with President Donald Trump last week that lowers US tariffs for imports of goods, including its mainstay automobiles, easing the pain for the export-reliant economy and clearing a key hurdle for further BOJ rate hikes. The positive development contrasts with the gloom that surrounded the economy on May 1, when the BOJ produced its current estimates amid heightened market volatility caused by Trump's April announcement of sweeping 'reciprocal' tariffs. The BOJ exited a decade-long, massive stimulus last year and raised its short-term policy rate to 0.5 per cent in January on the view that Japan was progressing towards durably achieving its price goal. With rising food costs hurting households and keeping inflation above its 2 per cent target for three years, some hawkish board members have highlighted mounting price pressures that could justify resuming rate hikes. REUTERS
CNA
an hour ago
- CNA
WiseTech Global taps insider Zubin Appoo as new CEO, succeeding founder Richard White
Australian logistics software maker WiseTech Global on Monday said its chief of staff, Zubin Appoo, will take on the role of CEO effective immediately, succeeding billionaire founder Richard White. White, the company's long-serving chief executive, put down his papers last October, following a flurry of controversies, including media reports of allegations about his personal life. White's exit comes amid a broader crisis marked by boardroom exodus, corporate governance concerns, and share volatility that led to Australia's largest pension fund, AustralianSuper, selling its stake in WiseTech Global. Appoo previously spent 14 years at WiseTech from 2004 to 2018 as head of innovation and technology, and was part of the team that developed WiseTech's flagship CargoWise platform. He returned to the company earlier this year as the deputy chief innovation officer, reporting directly to White. "Zubin Appoo's appointment is a much-needed stabilising force" for WiseTech, said Josh Gilbert, market analyst with eToro. "His elevation to CEO allows the business to draw a line under recent boardroom drama and provides a clearer leadership structure moving forward." Shares of the company ended 0.3 per cent higher at A$120.5. Andrew Cartledge, who served as the logistics tech firm's finance chief for nearly a decade, took over the interim CEO duties in October 2024. The company reiterated that Cartledge will retire at the end of the year as previously stated, but did not specify what role he will take on till his retirement. Last year in October, the Australian Financial Review and other media outlets reported that a woman who had had a sexual relationship with White made numerous allegations against him in late 2020, including claims of inappropriate behaviour. Initial findings of an external governance review started by the company largely cleared White of wrongdoing, though it acknowledged that his management style might be perceived by some employees as intimidating.
Straits Times
2 hours ago
- Straits Times
Several US executives to visit China this week: Sources
Find out what's new on ST website and app. A high-level delegation of American executives will travel to China this week to meet senior Chinese officials. BEIJING - A high-level delegation of American executives will travel to China this week to meet senior Chinese officials in a trip organised by the US-China Business Council (USCBC), two sources with knowledge of the visit told Reuters on July 28. The visit coincides with the latest round of US-China trade negotiations in Sweden , where China's Vice-Premier He Lifeng is meeting US officials from July 27 to July 30 for a new round of economic and trade talks. The delegation will be led by FedEx Chief Executive Rajesh Subramaniam, the council's board chair, one of the sources briefed on the trip said. The South China Morning Post first reported the visit on July 27, saying that executives from firms including Boeing would be part of the delegation. Reuters could not confirm other CEO members of the delegation or which Chinese officials they would meet. Boeing declined to comment on the trip and deferred to USCBC. The US government was not involved in the organisation of the visit, one of the sources said. The trip comes as Beijing and Washington work towards a summit between the two countries' leaders later in 2025, probably around the time of the Apec forum in South Korea October 26 - November 1, sources previously told Reuters. USCBC did not respond immediately to a request for comment. The business lobby previously organised similar visits to China by American CEO delegations in 2023 and 2024. The 2024 trip, also led by Mr Subramaniam, included meetings with Mr He and Foreign Minister Wang Yi, where executives discussed issues including market access. China faces an August 12 deadline to reach a durable deal with the White House or risk higher US tariffs. US officials are likely to extend the deadline by another 90 days as both sides work towards a more comprehensive deal, sources previously told Reuters. An extension of that length would prevent further escalation and help create conditions for the potential meeting between Mr Trump and Chinese President Xi Jinping. REUTERS
