Nokia's performance improves in 2024 Q4

Finnish telecommunications company Nokia's net sales and operating profit improved significantly in the fourth quarter (Q4) of 2024, the company's financial report for Q4 and full year 2024 showed on Thursday, reported Xinhua.

Between October and December last year, Nokia's net sales rose by 10 percent to 5.98 billion euros from 5.42 billion euros in Q4 of the previous year, while its comparative operating profit surged by 38 percent to 1.14 billion euros.

The results exceeded market expectations. Analysts previously expected Nokia's revenue to be 5.79 billion euros and comparable operating profit to be 960 million euros, according to a Finnish language leading daily Helsingin Sanomat on Thursday.

"This reflected a strong recovery in demand from communication service providers, notably in North America," said Nokia's President and Chief Executive Officer Pekka Lundmark.

For the full year of 2024, Nokia's net sales dropped by 9.0 percent and comparative operating profit increased by 12 percent.