Nokia to exceed 2021 guidance with help from venture fund investments

Written by on January 11, 2022

January 11, 2022

HELSINKI (Reuters) -Finnish telecoms equipment maker Nokia on Tuesday said it expected to exceed its 2021 earnings guidance, with its venture fund investments driving the boost.

Nokia estimated a full-year 2021 comparable operating margin of 12.4-12.6%, above its previous guidance of 10-12%, and net sales of 21.7-22.7 billion euros – within its previously announced range.

The company said its underlying business performed largely as expected in the fourth quarter.

“However, other operating income was higher than expected including further benefits from venture fund investments, leading to a stronger comparable operating margin exceeding the 2021 guidance,” it said in a statement.

Nokia now expects Q4 revenue of 6.4 billion euros, below expectations of 6.5 billion euros, according to Reuters calculations.

The company is due to report full-year results on Feb. 3.

For 2022, Nokia said it expected a comparable operating margin of 11-13.5%.

(Reporting by Anne Kauranen and Supantha Mukherjee; editing by Jason Neely, Kirsten Donovan)

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