What’s Impacting Nokia’s Stock Price?
NOK’s stock fall since its 2Q17 results
Europe-based (EFA) hardware tech (QQQ) firm Nokia (NOK) has seen its stock fall 2.7% since it announced its 2Q17 results on July 27, 2017. Nokia’s stock closed at $6.20 on August 2, 2017, and is now trading 53.7% above its 52-week low of $4.04 and 6.7% below its 52-week high of $6.65.
In 2Q17, Nokia reported revenues of 5.63 billion euros (about $6.42 billion)—a fall of 1% YoY (year-over-year) from its revenues of 5.67 billion euros in 2Q16. Its EPS (earnings per share) came in at 0.08 euros (about $0.09) for the quarter ended June 30, 2017.
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Nokia beat the analyst estimate in 2Q17
Analysts expected Nokia to post revenues of $6.17, with EPS of $0.05 in fiscal 2Q17. Nokia beat the analyst revenue estimate by 4% and the earnings estimate by 80% in 2Q17 and has beaten its earnings estimates in three of the past four quarters. In 4Q16 and 3Q16, Nokia beat the EPS estimate by 62.5% and 25.0%, respectively, when the firm announced EPS of $0.13 and $0.05, respectively.
While Nokia’s revenues fell a marginal 1% in 2Q17, its EPS rose ~166%.
During the company’s 2Q17 earnings call, CEO (chief executive officer) Rajeev Suri stated: “Overall, I’m pleased with where we landed in the second quarter. We again reduced the rate of our top-line decline and delivered solid profitability, all while making good progress on executing our strategy.”