Nokia Surges After Earnings Beat Shows 5G Plan on Track
- Finnish equipment maker maintains forescasts through 2020
- Network makers seeking to spur demand for new 5G equipment
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Nokia Oyj shares rose the most in 17 months after delivering an earnings beat that reassured investors the Finnish network-equipment vendor can capitalize on 5G.
The company kept its profit guidance for 2019 and 2020 unchanged after topping analysts’ estimates for the second quarter, signaling management confidence that sales of fifth-generation mobile gear will kick in after an early stumble caused by shipment delays. The stock rose as much as 9% in early trading in Helsinki.