Nokia Pulls Off A Profit, Holds Out Hope For The Future
Nokia might be down, but it's certainly not out.
The company today reported its fourth-quarter earnings, and offered up performance that might make its doomsayers think twice. During the fourth quarter, Nokia was able to generate a profit of 202 million euros ($269 million), a massive gain over the 1 billion euros the company lost during the same period in 2011. Still, Nokia's profit came amid slumping revenue that fell from 10 billion euros in the fourth quarter of 2011 to 8 billion last quarter.
On a full-year basis, Nokia could only muster 30.2 billion euros in sales, down 22 percent compared to the 38.7 billion euros it generated in 2011. Its 2012 operating profit was down to a 2.3 billion euro loss, compared to a 1.1 billion euro loss in all of 2011.