Latest news with #JustinHotard
Yahoo
26-04-2025
- Business
- Yahoo
Why Nokia Stock Is Plummeting Today
Shares of Nokia (NYSE: NOK) are tumbling on Thursday. The company's stock lost 8.8% as of 3:20 p.m. ET and was down as much as 11.1% earlier in the day. The steep decline comes as the S&P 500 and Nasdaq Composite were up 1.7% and 2.2%, respectively. The Finnish telecom and consumer electronics company posted numbers for its first quarter of 2025, coming in well below Wall Street targets. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » Nokia's earnings report shocked investors with Q1 earnings of $176.9 million, a substantial 36% miss. Analysts had expected $277.2 million. There was a one-time charge in its mobile networks division that helps explain the massive miss, but even after adjusting for the charge, the company's earnings fell short. Sales underwhelmed investors too, down 3% year over year. The report comes just as a new CEO takes the helm. Justin Hotard previously headed Intel's AI data center division and was brought on in part to help the company boost its presence in that critical area. Nokia admitted that U.S. tariffs would cause short-term disruption, estimating an impact of roughly $25 million in its Q2 profits. Much of the company's supply chain is based outside the U.S., although it does have some domestic operations. Hotard appeared confident that the tariffs wouldn't change the company's long-term prospects and that he was not interested in moving the bulk of his company's operations to the U.S. Despite the disappointing quarter, there are reasons to like Nokia stock. The company announced a multiyear extension of its partnership with T-Mobile to expand the carrier's 5G network coverage in the U.S. This will help provide steady cash flow for some time. The company has also largely reversed a negative sales trend in the U.S. That being said, I would hold off until more clarity emerges around President Trump's tariffs. Before you buy stock in Nokia Oyj, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Nokia Oyj wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $566,035!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $629,519!* Now, it's worth noting Stock Advisor's total average return is 829% — a market-crushing outperformance compared to 155% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of April 21, 2025 Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Intel. The Motley Fool recommends the following options: short May 2025 $30 calls on Intel. The Motley Fool has a disclosure policy. Why Nokia Stock Is Plummeting Today was originally published by The Motley Fool Sign in to access your portfolio
Asharq Al-Awsat
24-04-2025
- Business
- Asharq Al-Awsat
Nokia Posts Quarterly Profit Miss, Flags Disruption from Trump's Tariffs
Nokia reported first-quarter profit well below market expectations on Thursday and flagged a short-term disruption from US tariffs with an estimated impact of between 20 million and 30 million euros to its second-quarter profit. Comparable operating profit fell to 156 million euros ($176.9 million) in the first quarter of 2025, a 36% miss against the average forecast of 243.83 million euros by analysts surveyed by LSEG. A one-time charge in its mobile networks division had an impact of 120 million euros on quarterly margins, the company said. Nokia's sales in North America have been growing steadily despite losing market share to Nordic rival Ericsson, reflecting a renewed market strength after years of weakness, Reuters reported. But now the sweeping tariffs imposed by US President Donald Trump could counter this trend, as companies might pause orders fearing price increases. The Finland-based company also announced a strategic multi-year extension of its partnership with T-Mobile in the US to expand the carrier's 5G network coverage. "Telecommunications is not a place where customers tend to change their expenditures," Nokia's CEO Justin Hotard told reporters. Its quarterly net sales totalled 4.39 billion euros, down 3% on a constant-currency basis compared to a year earlier and a notch lower than the 4.41 billion euros expected by analysts. Nokia confirmed its outlook for the rest of the year, which now includes the acquisition of Infinera, but said achieving the top-end of the range for operating profit would be more challenging than initially expected.
Free Malaysia Today
24-04-2025
- Business
- Free Malaysia Today
Nokia says it's ‘not immune' to tariff wars after net profit drops
Nokia reported net sales of €4.4 billion, down 1% compared to a year ago. (EPA Images pic) HELSINKI : Finnish telecoms equipment maker Nokia today reported a €$68 million loss in net profit for the first quarter, citing the tariff wars and 'rapidly evolving global trade landscape'. The company said tariffs imposed by the US could result in 'some short-term disruption'. 'We are not immune to the rapidly evolving global trade landscape. However based on early customer feedback, I believe our markets should prove to be relatively resilient', Justin Hotard, president and CEO of Nokia, said in a statement. 'Based on what we see today, we currently expect a €20 million to €30 million impact to our comparable operating profit in the second quarter from the current tariffs,' Hotard said. US President Donald Trump implemented a tariff of 10% on global imports this month, but he paused plans for higher duties on dozens of countries, including a 20% duty for goods from EU nations. Nokia also reported net sales of €4.4 billion, down 1% compared to a year ago. It had posted a net profit of €438 million in the first quarter of last year. The company expected growth in its network infrastructure, cloud and network services and mobile network to boost sales in 2025. Alongside its first quarterly report, it announced a contract extension with T-Mobile US today, saying it continued 'to see positive signs of stabilisation' in mobile networks.
Time of India
24-04-2025
- Business
- Time of India
Nokia reports net profit drop, says 'not immune' to tariff wars
Finnish telecoms equipment maker Nokia on Thursday reported a net loss of 60 million euros ($68 million) for the first quarter, citing the tariff wars and "rapidly evolving global trade landscape". The company said tariffs imposed by the United States could result in "some short-term disruption". "We are not immune to the rapidly evolving global trade landscape. However based on early customer feedback, I believe our markets should prove to be relatively resilient", Justin Hotard President and CEO of Nokia said in a statement. "Based on what we see today, we currently expect a EUR 20 to 30 million impact to our comparable operating profit in the second quarter from the current tariffs", Hotard said. US President Donald Trump implemented a tariff of 10 percent on global imports this month, but he paused plans for higher duties on dozens of countries, including a 20 percent duty for goods from EU nations. Nokia also reported net sales of 4.4 billion euros ($4.9 billion), down one percent compared to a year ago. It had posted a net profit of 438 million euros in the first quarter of last year. The company said it expects its Network Infrastructure and Cloud and Network Services divisions to see sales growth this year, while Mobile Networks to hold steady. Alongside its first quarter report, it announced a contract extension with US operator T-Mobile on Thursday, saying it continued "to see positive signs of stabilisation" in its Mobile Networks business. Stay informed with the latest business news, updates on bank holidays and public holidays . Master Value & Valuation with ET! Learn to invest smartly & decode financials. Limited seats at 33% off – Enroll now!
New Straits Times
24-04-2025
- Business
- New Straits Times
Nokia reports net profit drop, says 'not immune' to tariff wars
HELSINKI: Finnish telecoms equipment maker Nokia on Thursday reported a net loss of €60 million (US$68 million) for the first quarter, citing the tariff wars and "rapidly evolving global trade landscape". The company said tariffs imposed by the United States could result in "some short-term disruption". "We are not immune to the rapidly evolving global trade landscape. However, based on early customer feedback, I believe our markets should prove to be relatively resilient," Justin Hotard, president and chief executive officer of Nokia, said in a statement. "Based on what we see today, we currently expect a €20 million to €30 million impact to our comparable operating profit in the second quarter from the current tariffs," Hotard said. US President Donald Trump implemented a tariff of 10 per cent on global imports this month, but he paused plans for higher duties on dozens of countries, including a 20 per cent duty for goods from EU nations. Nokia also reported net sales of €4.4 billion (US$4.9 billion), down one per cent compared to a year ago. It had posted a net profit of €438 million in the first quarter of last year. The company said it expects its Network Infrastructure and Cloud and Network Services divisions to see sales growth this year, while Mobile Networks is expected to hold steady. Alongside its first quarter report, it announced a contract extension with US operator T-Mobile on Thursday, saying it continued "to see positive signs of stabilisation" in its Mobile Networks business.
