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Customer Spending

All articles tagged with #customer spending

business2 years ago•0 min saved

Nokia's Q1 profits fall short of expectations due to customer spending squeeze.

Nokia's Q1 operating profit fell to €479m ($524.94m), missing market expectations, due to selling more 5G gear in low-margin markets and signs of customer spending slowing down. However, net sales grew 10% to €5.86bn, beating estimates. CEO Pekka Lundmark said the economic environment is impacting customer spending. Nokia has diversified its base to industrial customers who set up their own private 5G networks at power plants, utilities and mines among others.

via CNBC|

#5g #business #customer-spending

business2 years ago•3 min saved

Nokia's Missed Estimates Blamed on Tight Customer Budgets.

Nokia reported weaker-than-expected earnings for Q1 2021, citing a slowdown in demand for its 5G gear in some of its more mature markets. The company's adjusted operating profit was €479 million ($525 million), compared to an average analyst estimate of €544 million. Nokia CEO Pekka Lundmark said the company is starting to see signs of the economic environment impacting customer spending, but believes the weakness is primarily a question of timing. The company expects profitability in the second half of the year to be stronger than the first half.

via Yahoo Finance|

#5g #business #customer-spending