Nokia: Operating result 4 percent up

Net sales in Q3 2015 amounted to EUR 3.0 billion (EUR 3.1 billion in Q3 2014), down 2% year-on-year (down 10% year-on-year on a constant currency basis). At the same time, the operating profit (non-IFRS) stood at 475 million euro, a 4 percent increase over last years Q3 (457 million euro). Nokia Networks saw an operating result of some 391 million euro, down 2 percent from 397 million euro during Q3 last year. ”The performance at Nokia Networks was the highlight of the quarter, and allowed us to raise our full-year outlook for that business. Even if I am not pleased with the overall sales development, our strong profitability is testament to the strength of our operating model. We said earlier in the year that we would redouble our efforts to ensure our cost structure was aligned to market conditions, and the success of those efforts is very clear in our results”, said CEO Rajeev Suri.