THE RESULTS: Nokia Corp. reported a third-quarter net loss of ?68 million ($94 million). Though that’s a big reverse from last year’s equivalent profit of ?529 million, it represented an improvement on the second quarter’s ?368 million loss.
BETTER THAN EXPECTED: The loss was not as big as many in the markets feared. The company’s stock surged 8 percent.
TROUBLES STILL: Nokia’s smartphone sales continue to suffer in the face of stiff competition from Apple Inc.’s iPhone. Its sales of smartphones dropped 39 percent to ?2.2 billion, from ?3.6 billion a year earlier, knocking overall revenue by 13 percent to ?8.9 billion.
