Nokia shares up on sales and profit boom

Nokia shares were up 9% on the heels of its Q4 results indicating sales and profit exceeding its guidance.

Nokia Network sales reached €1.7bn, €0.3bn greater than expected.

Sales of Nokia Mobile Phones rose to €7bn, up 4% on the year.

The group said it now sees fourth quarter 2003 pro forma EPS 28 cents to 29 cents, against its guidance of 21-23 cents and reported EPS at 24-25 cents vs former 20-22 outlook.