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Mobilizing the Business and Business of Mobile

Nokia profit drop in Q3 2008

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Nokia today announced their Q3 2008 results and they were not pretty. The global financial crisis affected them just like all other companies. Nokia had already pre-announced that the numbers would be lower than their earlier estimates. Today, we saw how much lower. During Q3, Nokia’s market share declined to 38% from 39% in Q2 2008 and 40 % in Q3 2007.  The results were flat over last quarter and showed a decline year over year. The revenues for the quarter were at €12.2 billion which is 7% below previous quarter and 5% below the Q3, 2007 revenue. Nokia earned €1.4 billion which is flat with Q2 2008 but 21% decline YoY. In EPS terms, this translates to €0.29 per share which is 28% decline YoY. Nokia completed the Navteq acquisition during this quarter and the revenue and earnings numbers from Navteq are reflected above.

In morning trading, Nokia was trading at $15.55 which 2.91% higher than yesterday


Written by dvdand

October 16, 2008 at 7:41 am

Posted in Financials, Nokia

Tagged with ,

One Response

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  1. […] end of last quarter saw the beginning of the economic downturn. We have already seen the effects of the downturn on Nokia which said its Q3 revenue fell by 7% from previous quarter. Sony Ericsson has also been affected by […]

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