It says something about a company (and its stock) when the market is apparently willing to hand out plaudits on the basis of "things were less terrible than we thought." It's hard to say that Nokia (NYSE:NOK) is really on the way back, but maybe this fading mobile phone leader has at least found the path to take.
Stepping Over a Low Bar
Sell-side analysts didn't expect a lot from Nokia, but the company at least delivered that much. Revenue was up 11% sequentially for the fourth quarter, though down 21%. Both the "device" (that is, phones) and networks business saw basically the same 11% sequential growth (networks was a little stronger), but the year-on-year drop for devices was still pretty steep, down almost 30%. (For related reading, see Research In Motion Sliding Toward The Cliff.)
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