Nokia quarterly operating profit lags expectation

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Third-quarter comparable operating profit rose to 658 million euros ($643.3 million) from 633 million last year, lagging the 690.6 million euro mean forecast of 10 analysts polled by Refinitiv.

Net sales grew 6% in constant currency in the quarter compared to the same period a year ago to 6.24 billion euros, beating estimates of 6.06 billion.

Apart from growing demand from telecom clients in the U.S. and Europe, Nokia and rival Ericsson (BS:ERICAs) also got big contracts from Indian telecom operators for the launch of 5G in that country.

($1 = 1.0229 euros)