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Asharq Al-Awsat

Asharq Al-Awsat

Nokia's Quarterly Profit Beats on 5G Demand

Nokia Euro Refinitiv Supply chain

Visitors gather outside the Nokia booth at the Mobile World Congress in Barcelona, Spain, February 26, 2019. REUTERS/Sergio Perez

Telecom equipment maker Nokia reported stronger-than-expected quarterly operating profit on Thursday helped by higher demand for 5G gear despite supply chain constraints.

First-quarter comparable operating profit rose to 583 million euros ($613 million) from 551 million last year, beating the 513 million euro mean forecast of eleven analysts polled by Refinitiv.

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