STOCKHOLM, Oct 17 (Reuters) - Finnish telecom equipment
supplier Nokia on Thursday reported a 9% rise in
third-quarter operating profit, and echoed rival Ericsson
in seeing demand recovery in some areas.
"I am optimistic we are now turning the corner in many parts
of our business, even if some continue to experience market
weakness," Chief Executive Officer Pekka Lundmark said in a
statement.
Nokia maintained its full-year outlook and said it
expects a significant acceleration in growth in the fourth
quarter in its network Infrastructure business.
Comparable earnings before interest and tax (EBIT) rose
to 454 million euros ($492.73 million) from 418 million euros
last year, beating the 424 million euros expected by analysts in
an LSEG poll.
Comparable gross margin rose to 45.7% from 40.8% aided by
cost cuts and as it sold more equipment to high-margin markets.
Net sales fell 8% to $4.33 billion euros, mainly due to
lower sales to India. Demand from Indian clients have dropped
significantly this year after a growth spurt last year.
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