Nokia has reported a rise in October-December 2019 underlying profit. This has been attributed to cost cuts. Further, Nokia has said that most of its 2020 profit will be generated in the fourth quarter.
Further, Nokia’s underlying earnings increased from 0.13 euros per share during October-December 2018 to 0.15 euros per share during October-December 2019.
Moreover, Nokia repeated its forecast for 2020 underlying earnings per share of 0.20 euros to 0.30 euros.
Also, Nokia said its board would not propose a dividend for 2019. However, as per industry sources, analysts were expecting a dividend of 0.11 euros.
Earlier in October 2019, Nokia had cut its outlook and halted dividend payouts, attributing it to its need to step up investments in 5G.
