Latest news with #Hotard
Time of India
24-07-2025
- Business
- Time of India
Nokia's India net sales fall 6% on-year to ₹3,148.05 crore in Q2FY25
NEW DELHI: Finnish telecom gear maker Nokia reported a 6% year-on-year decline in its India net sales to 310 million euros (~₹3,148.05 crore) in the second quarter of fiscal year 2025 (Q2FY25), mainly dragged by a fall in its mobile networks business. Nokia, which follows the January-December financial year, had posted net sales of 329 million euros in Q2FY24 for the India market. 'Net sales in Asia Pacific (APAC) decreased in the second quarter, driven by declines in Mobile Networks, particularly in Greater China and India. Network Infrastructure (NI) saw broad-based growth across APAC. Cloud and Network Services saw growth in India and Rest of APAC which was offset by a decline in Greater China,' the vendor said in its earnings statement released on Thursday. This is in sharp contrast with its Swedish rival Ericsson, which has reported a 28% year-on-year fall in sales in the market area South East Asia, Oceania and India at 5.5 billion crowns (~₹4,917 crore) in the April-June 2025 quarter, weighed down by a pause in fifth-generation (5G) network investments by Indian telecom carriers. India, however, remained second among the top five countries by sales at 6% in the January to June period of 2025 for Ericsson, a company spokesperson told ET earlier. Nokia's mobile networks' net sales slid by 17% year-on-year in Q2FY25, primarily due to a decline in the Americas, and to some extent, APAC, while Europe, the Middle East and Africa (EMEA) grew slightly. 'Mobile Networks' net sales declined 13%, primarily related to the prior year settlement benefit and also due to project timing in India,' Justin Hotard, president & CEO, Nokia, said in the earnings statement. Nokia's cloud & network services net sales increased by 10% year-on-year in Q2FY25, mainly driven by core networks. 'In APAC, growth in Asia Pacific and Japan along with India was partially offset by a decline in Greater China,' it said. The network infrastructure net sales were up by 25% year-on-year in the fiscal second quarter of 2025, which included a full quarter of Infinera's financials. Nokia's network infrastructure business comprises its home broadband and optical transmission equipment business, which serves mostly enterprises, governments and webscalers, among others, while mobile networks involve supply of telecom equipment for telcos' retail network such as 4G and 5G. READ MORE | Ericsson's sales in South East Asia, Oceania & India slump by 28% on-year in Q2FY25 Nokia lowers full year operating profit outlook Nokia's overall sales grew slightly by 2% year-on-year to 4,546 million euros in Q2FY25. 'We are facing two headwinds to our full year operating profit outlook, which are outside of our control: currency due to the weaker US Dollar, and tariffs. The currency has an approximately 230 million euros negative impact relative to our expectations at the start of the year, with 90 million euros resulting from non-cash venture fund currency revaluations,' Hotard said. He added that the current tariff levels are forecasted to impact operating profit by 50 million euros to 80 million euros, inclusive of those in Q2. 'Considering these two headwinds, we decided it was prudent at this point to lower our comparable operating profit outlook to a range of 1.6 billion euros to 2.1 billion euros from the prior range of 1.9 billion euros to 2.4 billion euros,' the chief executive said. In India, Ericsson along with Nokia and South Korean Samsung, have commercial 5G deals with top telecom carriers Reliance Jio , Airtel, and Vodafone Idea (Vi). While Vi switched on its commercial 5G services in March, and is currently focused on expansion in 17 priority circles by August, its peers Jio and Airtel already have nationwide 5G networks and provide 5G FWA to customers. Earlier, Ericsson and Nokia saw a surge in India sales from the fourth quarter of 2022 and first quarter of 2023, respectively, shortly after Airtel and Jio began rolling out 5G networks nationally from October 2022. However, both telcos have concluded their 5G network deployments in the first half of 2024 and are now focused on boosting revenues and driving monetisation of their 5G businesses.
Yahoo
04-06-2025
- Business
- Yahoo
Nokia Corporation - Managers' transactions (Hotard)
Nokia CorporationManagers' transactions4 June 2025 at 8:30 EESTNokia Corporation - Managers' transactions (Hotard)Transaction notification under Article 19 of EU Market Abuse acquisition was conducted in accordance with the co-investment based long-term incentive arrangement.____________________________________________ Person subject to the notification requirementName: Hotard, Justin Position: Chief Executive Officer Issuer: Nokia CorporationLEI: 549300A0JPRWG1KI7U06 Notification type: INITIAL NOTIFICATIONReference number: 110867/5/4____________________________________________ Transaction date: 2025-06-03Venue: NASDAQ HELSINKI LTD (XHEL)Instrument type: SHAREISIN: FI0009000681Nature of the transaction: ACQUISITION Transaction details(1): Volume: 609 274 Unit price: 4.6301 EUR Aggregated transactions(1): Volume: 609 274 Volume weighted average price: 4.6301 EUR About NokiaAt Nokia, we create technology that helps the world act a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs, which is celebrating 100 years of innovation. With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future. Inquiries:Nokia CommunicationsPhone: +358 10 448 4900Email: Vaismaa, Global Head of External CommunicationsNokiaInvestor RelationsPhone: +358 931 580 507Email:
Yahoo
26-04-2025
- Business
- Yahoo
Why Nokia Stock Is Plummeting Today
Shares of Nokia (NYSE: NOK) are tumbling on Thursday. The company's stock lost 8.8% as of 3:20 p.m. ET and was down as much as 11.1% earlier in the day. The steep decline comes as the S&P 500 and Nasdaq Composite were up 1.7% and 2.2%, respectively. The Finnish telecom and consumer electronics company posted numbers for its first quarter of 2025, coming in well below Wall Street targets. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » Nokia's earnings report shocked investors with Q1 earnings of $176.9 million, a substantial 36% miss. Analysts had expected $277.2 million. There was a one-time charge in its mobile networks division that helps explain the massive miss, but even after adjusting for the charge, the company's earnings fell short. Sales underwhelmed investors too, down 3% year over year. The report comes just as a new CEO takes the helm. Justin Hotard previously headed Intel's AI data center division and was brought on in part to help the company boost its presence in that critical area. Nokia admitted that U.S. tariffs would cause short-term disruption, estimating an impact of roughly $25 million in its Q2 profits. Much of the company's supply chain is based outside the U.S., although it does have some domestic operations. Hotard appeared confident that the tariffs wouldn't change the company's long-term prospects and that he was not interested in moving the bulk of his company's operations to the U.S. Despite the disappointing quarter, there are reasons to like Nokia stock. The company announced a multiyear extension of its partnership with T-Mobile to expand the carrier's 5G network coverage in the U.S. This will help provide steady cash flow for some time. The company has also largely reversed a negative sales trend in the U.S. That being said, I would hold off until more clarity emerges around President Trump's tariffs. Before you buy stock in Nokia Oyj, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Nokia Oyj wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $566,035!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $629,519!* Now, it's worth noting Stock Advisor's total average return is 829% — a market-crushing outperformance compared to 155% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of April 21, 2025 Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Intel. The Motley Fool recommends the following options: short May 2025 $30 calls on Intel. The Motley Fool has a disclosure policy. Why Nokia Stock Is Plummeting Today was originally published by The Motley Fool Sign in to access your portfolio
New Indian Express
24-04-2025
- Business
- New Indian Express
Nokia swings to net loss, says 'not immune' to tariffs
HELSINKI: Finnish telecoms equipment maker Nokia on Thursday reported a net loss of 60 million euros (USD 68 million) for the first quarter, citing the The company said tariffs imposed by the United States could result in "some short-term disruption" in its operations, but held its outlook of posting an annual operating profit. "We are not immune to the rapidly evolving global trade landscape," chief executive Justin Hotard said in a statement. "However based on early customer feedback, I believe our markets should prove to be relatively resilient," he added. Hotard said the company expects the current tariffs would impact second quarter comparable operating profit by 20 to 30 million euros. The company posted an operating profit of 432 million euros in the second quarter last year. US President Donald Trump implemented a tariff of 10 percent on global imports this month, but he paused plans for higher duties on dozens of countries, including a 20 percent duty for goods from EU nations. Nokia maintained its earnings guidance of an operating profit of between 1.9 and 2.4 billion euros in 2025. It posted an operating profit of 2.0 billion in 2024. First quarter sales dipped one percent from last year to 4.4 billion euros. The first quarter net loss compared to a net profit of 438 million euros last. Atte Riikola, an analyst with Finnish market research firm Inderes, told AFP that Nokia's sales aligned with expectations while earnings fell below estimates owing to a contract settlement charge with a net impact of 120 million euros. "If we consider the one time negative impact from some customer contract that was settled, then the earnings performance was in line with the expectations," Riikola said. The company said it expects its Network Infrastructure and Cloud and Network Services divisions to see sales growth this year, while Mobile Networks to hold steady. Alongside its first quarter report, it announced a contract extension with US operator T-Mobile, saying it continued "to see positive signs of stabilisation" in its Mobile Networks business. Riikola said strategic announcements from Hotard -- who took over after Pekka Lundmark as Nokia's CEO on April 1 -- about the future of Nokia were to be expected in the second quarter. "We know that Nokia is going more towards the network infrastructure business and the key growth area there is the data centres," Riikola said.
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First Post
24-04-2025
- Business
- First Post
'Not immune': Trump tariffs hits Nokia as company slips into loss
Nokia maintained its earnings guidance of an operating profit of between 1.9 and 2.4 billion euros in 2025. It posted an operating profit of 2.0 billion in 2024 read more In this file photo taken on March 4, 2025 the logo of Finnish technology company Nokia is pictured at the MWC (Mobile World Congress), the world's biggest mobile fair, in Barcelona. AFP Finnish telecoms equipment maker Nokia on Thursday reported a net loss of 60 million euros ($68 million) for the first quarter, citing the tariff wars and the 'rapidly evolving global trade landscape'. The company said tariffs imposed by the United States could result in 'some short-term disruption' in its operations, but held its outlook of posting an annual operating profit. 'We are not immune to the rapidly evolving global trade landscape,' chief executive Justin Hotard said in a statement. 'However based on early customer feedback, I believe our markets should prove to be relatively resilient,' he added. Hotard said the company expects the current tariffs would impact second quarter comparable operating profit by 20 to 30 million euros. STORY CONTINUES BELOW THIS AD The company posted an operating profit of 432 million euros in the second quarter last year. US President Donald Trump implemented a tariff of 10 percent on global imports this month, but he paused plans for higher duties on dozens of countries, including a 20 percent duty for goods from EU nations. Nokia maintained its earnings guidance of an operating profit of between 1.9 and 2.4 billion euros in 2025. It posted an operating profit of 2.0 billion in 2024. First quarter sales dipped one percent from last year to 4.4 billion euros. The first quarter net loss compared to a net profit of 438 million euros last. Atte Riikola, an analyst with Finnish market research firm Inderes, told AFP that Nokia's sales aligned with expectations while earnings fell below estimates owing to a contract settlement charge with a net impact of 120 million euros. 'If we consider the one time negative impact from some customer contract that was settled, then the earnings performance was in line with the expectations,' Riikola said. The company said it expects its Network Infrastructure and Cloud and Network Services divisions to see sales growth this year, while Mobile Networks to hold steady. STORY CONTINUES BELOW THIS AD Alongside its first quarter report, it announced a contract extension with US operator T-Mobile, saying it continued 'to see positive signs of stabilisation' in its Mobile Networks business. Riikola said strategic announcements from Hotard – who took over after Pekka Lundmark as Nokia's CEO on April 1 – about the future of Nokia were to be expected in the second quarter. 'We know that Nokia is going more towards the network infrastructure business and the key growth area there is the data centres,' Riikola said.
