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Nokia's Quarterly Profit Beats on 5G Demand

Nokia's Quarterly Profit Beats on 5G Demand

Thursday, 28 April, 2022 - 05:30
Visitors gather outside the Nokia booth at the Mobile World Congress in Barcelona, Spain, February 26, 2019. REUTERS/Sergio Perez

Telecom equipment maker Nokia reported stronger-than-expected quarterly operating profit on Thursday helped by higher demand for 5G gear despite supply chain constraints.

First-quarter comparable operating profit rose to 583 million euros ($613 million) from 551 million last year, beating the 513 million euro mean forecast of eleven analysts polled by Refinitiv.

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