Nokia’s Top Line Disappoints While Restructuring Efforts Are Moving Well; Maintain FVE of $5.50
Nokia reported mixed third-quarter results as a revenue decline was partially offset by solid margins expansion. We are pleased with the Alcatel-Lucent integration efforts and overall profitability improvements, but we remain concerned with the overall health of the telecom spending environment, especially in mobile broadband infrastructure, which accounts for over a half of the company’s revenue. While Nokia announced the upcoming launch of its so-called 4.5G and 4.9G mobile broadband products,...Nokia is an Internet and communications technology company based in Finland. Co.'s operations are focused on three businesses: network infrastructure software, hardware and services, which Co. offers through Networks; location intelligence, which Co. provides through HERE; and advanced technology development and licensing, which Co. pursues through Technologies. Co. maintains a global presence with operations and Researh & Development facilities located in Europe, North America and Asia, and sales in approximately 130 countries. Co. has an installed base of around 600 customers worldwide and these operators serve over 4 billion subscribers.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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