Nokia Reports Q1 2013 Results: $196 Million Loss On $7.65 Billion In Revenue

Posted on Apr 18 2013 - 3:39pm by Editorial Staff

Nokia today reported its first quarter 2013 results with posting a small loss of €150 million (roughly $196 million) on €5.85 billion ($7.65 billion) in revenue over the quarter. The company further reported a non-IFRS loss per share of $0.03 while a reported EPS was of $0.09.

Nokia further reported that the devices & Services Q1 net sales decreased 25% quarter-on-quarter to €2.9 billion while Lumia Q1 volumes increased 27% quarter-on-quarter to 5.6 million units, reflecting increasing momentum. Mobile Phones Q1 volumes decreased 30% quarter-on-quarter to 55.8 million units while Nokia Siemens Networks net sales decreased 30% quarter-on-quarter to €2.8 billion.

Here is what Stephen Elop, Nokia CEO, said:

“At the highest level, we are pleased that Nokia Group achieved underlying operating profitability for the third quarter in a row. While operating in a highly competitive environment, Nokia is executing our strategy with urgency and managing our costs very well.

We have areas where we are making progress, and areas where we are further increasing the focus. For example, people are responding positively to the Lumia portfolio, and our volumes are increasing quarter over quarter.

Nokia Siemens Networks delivered another strong quarter and contributed to an overall improvement in Nokia

Group’s cash position. On the other hand, our Mobile Phones business faces a difficult competitive environment, and we are taking tactical actions and bringing new innovation to market to address our challenges.

All of these efforts are aimed at improving our financial performance and delivering more value to our shareholders.”

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