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Nokia says revenue and margins to rise as turnaround gathers pace -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: In Barcelona, Spain on February 25, 2018, a cyclist passes by a Nokia logo. REUTERS/Yves Herman

HELSINKI, Reuters -Nikon (NYSE:), a Finnish telecoms equipment manufacturer, said that it expected its revenues to rise this year. It also set a higher goal for long-term earnings margins. This is as Nokia’s recovery continues after many years of restructuring.

Nokia forecasts that 2022’s revenue will be between 22.6 and 23.8 trillion euros (between $25.5 billion and $26.9billion), an increase of 22.2 billion from last year. Refinitiv poll revealed that analysts expected an average of 23.06 Billion in revenue.

Pekka, the Chief Executive Officer of PekkaLundmark stated that long-term growth is our goal and we aim to have an operating margin comparable to at least 14%.

A producer of 5G technology, and other network gear has offered a dividend in the amount of 0.08 euros per share. The first owners of the shares will get this since the mid-2019 quarterly payout.

Nokia also plans to start a share-buyback program with the aim of returning 600 million euros to shareholders in a two year period.

($1 = 0.8850 euros)

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