HELSINKI (Apr 25): Finnish telecom network equipment maker Nokia plunged to a surprise quarterly loss due to a delay in booking 5G payments and said on Thursday the security dispute surrounding rival Huawei was creating near-term pressure to invest. Shares in the company fell 10 percent to their lowest level in six months as Nokia said it also expected pressure in the second half of the year. The company said a failure to book about 200 million euros ($223.1 million) of net sales related to 5G in North America weighed on results during. MODEST EXPECTATIONSNokia, which signaled in January that it would have a particularly weak first quarter, made an operating loss (non-IFRS) of 59 million euros ($66 million) from a profit of 239 million euros in the year ago first quarter. That compared with analysts’ profit expectations ranging from 175 million euros to 457 million in a Reuters poll.

Source: The Edge Markets April 25, 2019 07:52 UTC