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TECHNOLOGY: “*NOKIA SHARES FALL 3.5% AFTER 3Q SALES MISS ESTIMATES” -BBG

TECHNOLOGY

Ba1/BBB-/BBB-                 EUR Spreads Muted

  • Equity analysts note that op profit would have been a miss if not for a benefit from the reversal of loss allowances for certain trade receivables (a one-off).
  • Op profit is tracking “within the bottom-half” of the EUR 2.3-2.9bn guidance; Q2 languages was tracking “toward the mid-point or slightly below the mid-point”. BBG consensus is for EUR 2.35bn.
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Ba1/BBB-/BBB-                 EUR Spreads Muted

  • Equity analysts note that op profit would have been a miss if not for a benefit from the reversal of loss allowances for certain trade receivables (a one-off).
  • Op profit is tracking “within the bottom-half” of the EUR 2.3-2.9bn guidance; Q2 languages was tracking “toward the mid-point or slightly below the mid-point”. BBG consensus is for EUR 2.35bn.