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Thursday, April 17. 2008

Nokia Misses Analyst Estimates; Stock Drops

Net income rose 25 percent to 1.22 billion euros ($1.95 billion), but the company missed anaylysts expected 1.38 billion-euro prediction (as calculated by Bloomberg). Nokia dropped as much as 11 percent in European trading, the biggest slide in almost four years. The weak dollar and slowing growth in sales due to economic woes were blamed. There was no mention of NAVTEQ acquisition, save that it's being investigated by the EU.

- Bloomberg

Posted by Adena Schutzberg at 08:29 | Comments (0) | Trackbacks (0) | Bookmark and Share

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