Report
Ilya Kundozerov
EUR 101.80 For Business Accounts Only

Nokia Delivers Strong 4Q Results; Positive Margin Guidance; Shares Fairly Valued.

Nokia finished 2017 on an upbeat note, with revenue and margins coming in above our expectations. We were positively surprised by strong performance in mobile and optical networks. The top-line strength was supplemented by solid cost-cutting efforts as Nokia’s profitability profile continued to improve. The company also provided guidance for the operating margin of Nokia Networks (which is expected to be in the 6%-9% range for 2018 and 9%-12% in 2020) and Nokia Technologies (which is expected to...
Underlying
Nokia Oyj

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.

Provider
Morningstar
Morningstar

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.

We have operations in 27 countries.

Analysts
Ilya Kundozerov

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