Nokia : Low margin, even for the US mobile business and IP routing. This performance cannot be extrapolated over the full year
>Disappointment on the gross margin, on the major pillars (US, IP routing) - • Revenues 3.2% higher than forecast Q2 revenues were down 5.5%, i.e. -1% y-o-y at constant currency (cc) (vs -9% in Q1 and -1% at Ericsson in Q2). Network revenues were stable y-o-y cc in Q2: China unsurprisingly remained under pressure in networks (-17% y-o-y cc). The US showed signs of recovery (+6% y-o-y cc vs -15% in Q1) vs an increase of +11% y-o-y cc in the US at Ericsson an -17% y-o-y...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.
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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