As recently as earlier this month, we speculated that Nokia may not make it to 2014. And that wasn’t just a random prediction—it’s no secret Nokia’s revenues have been tanking for some time now. The company’s rating was downgraded in April 2012, which prompted the Finnish giant to sell its corporate headquarters (only to lease them back again) as a way to get some much-needed cash in early December 2012.
But investors were happily surprised on Thursday morning, when Nokia announced its fourth-quarter 2012 results were much better than expected—with its quarterly sales reaching 86.3 million devices, including 6.6 million smartphones. Two-thirds of those were Windows-based Lumia phones.
Combined with other services, quarterly sales reached €3.9 billion ($5.09 billion), which sent shares soaring by 16 percent, reaching nearly €3.50 per share by mid-afternoon in Europe. Overall however, Nokia’s stock lost 22 percent on the year in 2012, its fifth consecutive annual decline.
Read 2 remaining paragraphs | CommentsBut investors were happily surprised on Thursday morning, when Nokia announced its fourth-quarter 2012 results were much better than expected—with its quarterly sales reaching 86.3 million devices, including 6.6 million smartphones. Two-thirds of those were Windows-based Lumia phones.
Combined with other services, quarterly sales reached €3.9 billion ($5.09 billion), which sent shares soaring by 16 percent, reaching nearly €3.50 per share by mid-afternoon in Europe. Overall however, Nokia’s stock lost 22 percent on the year in 2012, its fifth consecutive annual decline.
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