Report

Nokia : Faiblesse de la marge, même pour le mobile US et l’IP Routing. Mais à ne pas extrapoler

>Déception sur la marge brute, sur les axes forts (US, IP Routing) - CA 3.3%au-dessus des attentes. Le CA T2 est ressorti en baisse de 5.5%, soit -1% yoy à tcc (vs -9% au T1 et -1% chez Ericsson au T2). Le CA Réseaux était stable yoy à tcc au T2 : la Chine reste sans surprise sous pression dans les Réseaux (-17% yoy à tcc). Les États-Unis ont montré des signes de rétablissement (+6% yoy à tcc vs -15% au T1) vs une hausse de +11% yoy à tcc aux États-Unis chez Ericsson ...
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
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

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Matthias Desmarais
  • Matthias Desmarais

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