Nokia’s Q4 Results Amid Market Turmoil
Nokia (NYSE: NOK) reported a 3% year-over-year revenue growth for Q4, totaling $7.13 billion, surpassing analysts’ expectations of $6.95 billion. Per-share earnings of $0.21 also exceeded the forecast of $0.17, while the company anticipates a revenue increase of 6% to 8% for the current fiscal year.
Despite these strong results, as of 3:06 p.m. ET, Nokia’s stock is down 8%, primarily impacted by a significant sell-off in major AI stocks, sparked by concerns over Microsoft’s spending on AI not yielding immediate returns. Nokia’s recent foray into AI, including a partnership with Nvidia for 6G technology, links its performance to the broader AI market dynamics.
