Boston, MA 10\/31\/2013 (wallstreetpr) –\u00a0<\/b>Nokia Corporation (ADR) (NYSE:NOK) is beaming after it posted better earnings for the third quarter that surpassed analysts\u2019 expectations at Wall Street. This resulted in its shares rising by more than 10% immediately after the results were posted, the firms earnings were better than expected highly driven by the sales of its new Lumia smartphone. The sales left Nokia with a better cash flow for the third quarter ending September the Company reported earnings of 0.01 per share excluding non-recurring items. The only drawback from the result was a decline in revenue by 21.8% to clock at 5.66 billion.<\/p>\n
\u00a0Nokia did not enjoy good sales as expected in NSN or HERE although devices and services did exemplary well in terms of sales. HERE\u2019s a map business net sale slowed down to a decline of 9% in the quarter to slump to \u20ac0.2 billion. The slow run in this case was due to lower seasonal sales to vehicle consumers. NSN sales also slumped by 7% to clock at \u20ac2.6 billion. Nokia Devices and Sales surged by 6% to clock a high of \u20ac2.9 billion. Lumia devices which make up one of the biggest brands out of Nokia posted increased volume sales of 19% which represents a sale of 8.8 million units.<\/p>\n
Nokia closed the third quarter on a high with a strong balance sheet reflected with a net cash balance of \u20ac2.4 billion and gross cash of \u20ac9.1 billion. These amounts exclude the cost that Nokia incurred to acquire Siemens stake in NSN for \u20ac1.7 billion. NSN on its own contributed a staggering net cash of \u20ac1.5 billion and gross cash of \u20ac1.5 billion. Nokia phone volume sales increased by 4% to clock a high of 55.8 million units<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 10\/31\/2013 (wallstreetpr) –\u00a0Nokia Corporation (ADR) (NYSE:NOK) is beaming after it posted better earnings for the third quarter that surpassed analysts\u2019 expectations at Wall […]<\/p>\n","protected":false},"author":9,"featured_media":12026,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263],"tags":[340,3409,2817,672],"stock_ticker":[],"class_list":["post-12025","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-nok","tag-nokia-corporation-adr","tag-nokia-corporation-adr-nysenok","tag-nysenok","entry"],"acf":[],"yoast_head":"\n