Nokia Q3 sales beat estimates on resilient broadband demand

Stockholm

NOKIA Oyj has reported a smaller drop in third-quarter sales than analysts predicted, helped by demand for broadband-network equipment gained through its acquisition of Alcatel-Lucent SA.

Sales fell about 6 per cent on a pro-forma basis to 6 billion euros (S$9.1 billion), compared with the average analyst estimate of 5.86 billion euros. Adjusted earnings were 4 cents a share, Nokia said in a statement on Thursday. That matched the average estimate.