Nokia reports strong Q3 profit growth

Helsinki

FINLAND's Nokia beat market expectations as it reported strong third-quarter profit growth and lifted the profitability outlook for its core network gear unit on the back of large network roll-outs in North America and China.

Nokia shares rose 5.3 per cent to 6.85 euros by 0830 GMT, underscoring investors' positive view of the transformation of the company from a struggling mobile handset maker, the consumer-focused business it sold to Microsoft six months ago, into a pure play network-equipment maker.