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.