Nokia Sinks on Surprise Loss Amid 'Ongoing Market Weakness'

Key Takeaways American depositary receipts (ADRs) of Nokia (NOK) dropped Thursday after the Finnish telecommunications company reported second-quarter results that included lower sales than analysts had expected and a surprise loss. Sales fell 18% year-over-year to EUR4.47 billion, with Chief Executive Officer (CEO) Pekka Lundmark noting that they were being impacted by "ongoing market weakness." Despite the worse-than-expected first- and second-quarter sales and lowered full-year sales projections for its ...