Nokia to exceed 2021 guidance with help from venture fund investments – Reuters

Nokia to exceed 2021 guidance with help from venture fund investments – Reuters

The logo and ticker for Nokia are displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 21, 2018. REUTERS/Brendan McDermid/File Photo

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HELSINKI, Jan 11 (Reuters) – Finnish telecoms equipment maker Nokia (NOKIA.HE) on Tuesday said it expected to exceed its 2021 earnings guidance, with its venture fund investments driving the boost.

Nokia estimated a full-year 2021 comparable operating margin of 12.4-12.6%, above its previous guidance of 10-12%, and net sales of 21.7-22.7 billion euros – within its previously announced range.

The company said its underlying business performed largely as expected in the fourth quarter.

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“However, other operating income was higher than expected including further benefits from venture fund investments, leading to a stronger comparable operating margin exceeding the 2021 guidance,” it said in a statement.

Nokia now expects Q4 revenue of 6.4 billion euros, below expectations of 6.5 billion euros, according to Reuters calculations.

The company is due to report full-year results on Feb. 3.

For 2022, Nokia said it expected a comparable operating margin of 11-13.5%.

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Reporting by Anne Kauranen and Supantha Mukherjee; editing by Jason Neely, Kirsten Donovan

Our Standards: The Thomson Reuters Trust Principles.

Source: https://www.reuters.com/business/media-telecom/nokia-exceed-2021-guidance-2022-01-11/