Nokia Corporation has initiated a EUR 600 million share buyback program, signaling confidence in its financial position as demand for 5G technology surges. The company reported a stronger-than-expected profit of €177 million from continuing operations and achieving a 5.4% year-over-year increase in net sales. Despite facing supply chain challenges from a global chip shortage and COVID-19 lockdowns in China, Nokia reaffirmed its full-year sales guidance of €22.9 billion to €24.1 billion while navigating its exit from Russia, which will incur a €100 million provision.
“Nokia Corporation · acquired · own shares · 337,000”
“Nokia Corporation · has weighted average price per share · EUR · 4.79”
“Nokia Corporation · holds · treasury shares · 55,423,226”
“Nokia Corporation · acquired · own shares · 301,000”
“Nokia Corporation · initiated · share buyback program · up to EUR 600 million”
“Nokia Corporation · holds · treasury shares · 55,724,226”
“Nokia · keeps its guidance for the full year · net sales · €22.9 billion to €24.1 billion on a constant currency basis”
“Nokia · reported profit · from continuing operations · €177 million”
“Nokia · reported profit · per share · €0.03”
“Nokia · year-over-year net sales improvement · on a constant currency basis · 5.4%”
“Nokia · beat · the consensus estimate · of $5,921 million”
“cash from operating activities · generated · during the first quarter · €559 million”