Nokia earnings beat forecasts
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Robust demand for cheaper phones boosted third-quarter earnings at Nokia Oyj, the world's biggest maker of mobile phones, with the better than expected result sending its shares sharply higher.
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Investors will be looking to see if the world&#39;s top mobile phone maker Nokia can sustain momentum at its recovering handset unit into the key Christmas season when it reports earnings next week.
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Motorola Inc.  on Tuesday said quarterly earnings rose 34 percent, beating Wall Street expectations, as it regained global market share in wireless handsets amid robust sales of its most advanced phones.
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Shares in Nokia surged on Thursday after the world's largest handset maker reported a surge in profits and expanding market share.
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Nokia Corp. reported a 13 percent drop in fourth-quarter earnings Thursday, but said it had recovered some market share, revenue had increased and it predicted more growth in 2005.
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Nokia, the world's largest cell phone maker, reported lower third-quarter earnings on Thursday after cutting prices to claw back market share, but said sales were strong as it enters the key Christmas season.
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Nokia , the world's top cellphone maker, reported a 57 percent rise in earnings per share from October to December, with booming demand in emerging markets boosting its global market share to 40 percent.
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British mobile phone giant Vodafone  Group Plc  beat market forecasts for quarterly customer  additions on Wednesday, and reiterated its annual forecasts for  revenue growth and profit margins.
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Motorola Inc  on Thursday posted third-quarter earnings above Wall Street estimates and forecast a profit for the fourth quarter, raising expectations the mobile handset maker had begun to turn its business around.
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Despite falling prices, Nokia squeezes out profits on sales of 106 million handsets in the fourth quarter of 2006.
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Nokia was a leading gainer Wednesday as European stock markets clawed back some of the steep losses from the previous session.
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Finnish mobile phone giant Nokia posted better-than-expected third quarter results, possibly marking a turnaround after failing to pick up on the popularity of clamshell phones, and predicted overall growth in global handset sales this year.
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Technology stocks ended higher on Thursday after mobile phone maker Nokia raised its earnings forecast, but blue chips closed fell as oil prices climbed almost $2 a barrel, increasing concerns about future corporate profits.
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Despite a dip in profits, growing revenues from wireless subscribers pushed overall profits above forecasts.
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Nokia said Thursday its third-quarter revenue and profits would be better than expected, citing an increase in mobile phone sales.
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Nokia made less money per mobile phone in the third quarter, but profits increased because it sold a lot more phones, the company says.
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Global cellphone sales rose to record levels in the second quarter as Nokia clawed back some of its lost market share, according to figures released Thursday.