Nokia profits top forecast as sales beat expectations

NOKIA, the world’s largest mobile phone maker, said fourth-quarter profit topped its earlier forecasts as sales of wireless networks and handsets beat expectations.

The stock jumped as much as 16% on the news. Fourth-quarter sales were little changed at €8.8 billion from a year earlier, Nokia said. Mobile phone sales rose 4% to about €7 billion.

Nokia previously forecast handset sales would be “flat to slightly up”. Network sales fell 18% to €1.7bn from €2.08bn, beating the €1.4bn Nokia had forecast earlier.