Nokia Shares Soars as Mobile-Phone Profit Beats Estimates
This article is for subscribers only.
Nokia Oyj jumped as much as 18 percent in Helsinki trading after a surprise fourth-quarter earnings recovery signaled Chief Executive Officer Stephen Elop’s plan to revive the Finnish handset maker is gaining pace.
The company said today its mobile-phone business probably had its first profit in a year excluding some items. That compares with its October forecast for a loss of as much as 10 percent of sales. The shares reached their highest level in nine months for their steepest increase since July 19.