How Nokia Stock Found a Clear Signal Today
(NYSE: NOK) investors enjoyed a strong boost on Thursday. The Finnish telecom equipment giant reported robust third-quarter results early in the morning, driving the stock as much as 11.4% higher at multiple points.
Nokia's third-quarter sales rose 11.5% year over year to 4.83 billion euros (approximately $5.61 billion). Earnings held steady at 0.06 euros per share (roughly $0.07 per share). The analyst consensus had pointed to richer revenue in the neighborhood of 5.43 billion euros, while the bottom-line result was right on target.
That's a mixed report at best, with a significant revenue miss. But investors shrugged off the revenue issue in light of strong incoming orders -- Nokia is setting itself up for richer revenue in the coming quarters. In particular, cloud computing and artificial intelligence (AI) data center operators are making heavy investments in optical networking infrastructure.
Source Fool.com
