STOCKHOLM (Reuters) – Finnish telecom gear group Nokia reported on Friday second-quarter sales of 5.7 billion euros ($6.4 billion), a comparable operating profit margin of 11%, and lowered its full-year outlook.
Analysts polled by Refinitiv had estimated sales of 6.0 billion on average.
Nokia said it now saw 2023 sales of 23.2-24.6 billion euros ($26.1-$27.6 billion) against 24.6-26.2 billion previously. It narrowed its comparable operating margin range outlook to 11.5-13% from 11.5-14% previously.
“The changes are related to Nokia’s Network Infrastructure and Mobile Networks business groups,” it said.
Nokia is scheduled to publish its full second-quarter earnings report on July 20.
Shares in Nokia closed down 9.4% on Friday.
($1 = 0.8906 euros)
(Reporting by Anna Ringstrom, editing by Louise Rasmussen and Matt Scuffham)