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On Thursday, Nokia announced 2017Q1 results only slightly lower than the previous year.  Non-IFRS net sales in Q1 2017 of EUR 5.4bn (EUR 5.6bn in Q1 2016). Reported net sales in Q1 2017 of EUR 5.4bn (EUR 5.5bn in Q1 2016).  Non-IFRS diluted EPS in Q1 2017 of EUR 0.03 (EUR 0.03 in Q1 2016). Reported diluted EPS in Q1 2017 of negative EUR 0.08 (negative EUR 0.11 in Q1 2016).  They reiterated their full year outlook.

Rajeev Suri, Nokia’s CEO stated that in IP/Optical Networks their business is heavily weighted towards communication service providers, and that market is currently quite soft. But with strength in other areas, particularly mobile networks, Suri cautiously optimistic about their situation.

Financial markets were satisfied with the results jumping 5% on the news.

Nokia is still in the process of integrating their enormous two-year old acquisition of Alcatel-Lucent.  For background, see http://www.truepulse.com/nokia-takes-control-of-alcatel-lucent/.  The judgement is still out on the success of the merger.

For more information on Nokia’s announcement, see http://www.nokia.com/en_int/news/releases/2017/04/27/nokia-corporation-interim-report-for-q1-2017