Nokia’s Q3 2024 Outlook
Nokia Corporation (NOK), set to reveal its Q3 performance on Oct. 17, may see a decrease in revenue compared to the previous year. The telecom giant faces challenges like tough competition and global uncertainties. Despite this, its focus on innovation and expanding its product range remains a positive point.
Key Highlights
During Q3, Nokia secured contracts with AT&T Inc., Vodafone Idea Limited, and MEO to enhance their network infrastructure. Partnerships with Telekom Malaysia, Homeplus, and TiM Brasil further bolstered Nokia’s standing in the market. However, a slowdown in 5G investments and heightened competition may dampen revenue growth for the company.
Revenue estimates for specific segments show a 13.6% decline in Mobile Networks but a 21.9% growth in Network Infrastructure. Cloud & Network Services are expected to bring in €789.3 million ($867.4 million) in revenue.
The Zacks Consensus Estimate projects Nokia’s total Q3 revenue at $5.10 billion, lower than the prior year. Adjusted earnings per share are estimated at 7 cents, up from 5 cents in the year-ago period.
Market Expectations
Market analysis does not strongly indicate an earnings beat for Nokia this quarter. With an Earnings ESP of 0.00% and a Zacks Rank #2, Nokia faces uncertainties. Other companies like Corning Incorporated (GLW), T-Mobile US, Inc. (TMUS), and Qorvo Inc. (QRVO) may present better opportunities for investors, with their positive Earnings ESP and Zacks Rank.
Investors should stay tuned to Nokia’s earnings release for insights into its performance in a challenging market environment.