(Nokia) Finnish multinational tech firm Nokia will hike its financial guidance figures for 2021, following the strength recorded in the second quarter of the year.
Nokia previously expected sales between €20.6 billion to €21.8 billion; operating margins up by 7% to 10%, and return on invested capital of 10% to 15%.
Nokia’s optimism is driven by the performance in April to June quarter. It will report the updated 2021 guidance on July 29, 2021, along with the second-quarter and first-half earnings.
Nokia President and Chief Executive Officer Pekka Lundmark said the company is moving forward with its three-phased plan for sustainable profitable growth.
The company touted good cost control and strength in end markets in the first half which provides a “good foundation” for the year but expects headwinds in the remaining months of the year.
Nokia’s outlook continues to indicate a positive cash flow.
NOK is down 1.83%.
