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Here's Why Nokia Stock Soared Today

TheMotleyFool

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Here's Why Nokia Stock Soared TodayPhoto, wide shot, wide-angle lens, Mobile phone network, sunset photo at golden hour, photo by Thomas Heaton: https://img.theapi.app/temp/828b91fb-678a-4621-906b-21e972059e7d.png

Shares of Nokia (NYSE: NOK) jumped 11% on Thursday after the telecom equipment maker delivered surprisingly strong first-quarter results.

Nokia's net sales rose 3% year over year -- and 9% when excluding the impact of currency fluctuations -- to 5.1 billion euros ($6.2 billion). This growth was fueled in part by 5G-related gains in Nokia's network infrastructure and mobile networks businesses.

Enterprise sales were particularly strong. New customer additions helped to drive a 14% (18% in constant currency) increase in revenue in this key segment.

Source Fool.com

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