Nokia announced Q2 net sales of EUR 5.313 billion up 4% yoy on a reported basis and up 9% yoy on a constant currency basis, driven by growth across all business groups, with particular strength in Network Infrastructure. Q2 comparable diluted EPS was EUR 0.09 and reported diluted EPS was EUR 0.06.
Based on the strong performance, Nokia increased upwards its full-year outlook. The company now expects a comparable operating margin between 10-12% for full-year 2021, compared to the previous range of 7-10%.
Pekka LUNDMARK, President and CEO of Nokia, states:
"I am delighted that our strong start to 2021 continued in the second quarter. Our constant currency sales growth of 9%, combined with good cost control, enabled us to deliver a comparable operating margin of 12.8%. Even excluding a one-time software deal in Mobile Networks, we saw good underlying progress in operating margin. We are already seeing the benefits of our new operating model which helped us to deliver such a strong financial performance."
"The highlight of the second quarter was the Mobile Networks launch of our new AirScale baseband and radio products with up to 75% better power efficiency helping to reduce our environmental footprint and the lightest 32TRX massive MIMO active antenna in the market. In Network Infrastructure we sustained double-digit growth and have a series of product launches ahead in the second half to further strengthen our differentiation. Cloud and Network Services is making good progress on its portfolio rebalancing and Nokia Technologies continues to scale with two licensing agreements with automotive manufacturers including Daimler."
Some highlights:
https://www.nokia.com/about-us/investors/results-reports-Va2/
