Citing growing 5G demand and growth in four of its six global regions, Nokia reported net sales in Q2 2019 were EUR 5.7bn compared to EUR 5.3bn in Q2 2018. On a constant currency basis, net sales increased 5%. Reported diluted EPS in Q2 2019 was negative EUR 0.03, compared to negative EUR 0.05 in Q2 2018.
Rajeev Suro, President and CEO of Nokia, states: “In the quarter, we saw good year-on-year growth, meaningful improvements in profitability, robust progress in our strategic expansion areas of Software and Enterprise and excellent momentum in our IP Routing business. We also continued to enhance our position in 5G, and now have 45 commercial 5G deals and 9 live networks. Risks remain in the year, including execution demands in the second half, trade-related uncertainty and challenges in the China market. Given these risks, we will continue to focus on tight operational discipline, delivering on our EUR 700 million cost-savings program, improving working capital management and advancing the implementation of our strategy.”
Nokia also noted that “Some customers are reassessing their vendors in light of security concerns, creating near-term pressure to invest in order to secure long-term benefits.”
