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Nokia improves margins on small drop in Q1 sales, sees Q2 impact from coronavirus

2020-04-30 08:50:00| Telecompaper Headlines

(Telecompaper) Nokia reported improved underlying profits in the first quarter, thanks to its cost reduction efforts and a limited impact from the Covid-19 pandemic. While revenues were down 2 percent to EUR 4.9 billion, adjusted operating profit was a positive EUR 116 million versus a loss of EUR 59 million a year ago. The company said it expects Q2 to show the most impact from the coronavirus crisis and slightly lowered the mid-point of its full-year outlook. 

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