HELSINKI—Wireless and fixed-network equipment maker Nokia on Thursday reported strong fourth-quarter results on the back of robust demand for 5G technology and an improved product portfolio.
The Espoo, Finland-based company reported net profit of 929 million euros ($1 billion) for the October–December period, up 27 percent from 731 million euros a year earlier.
Net income attributable to shareholders was 931 million euros, up from 727 million euros the previous year.
Nokia’s sales were up 16 percent at 7.4 billion euros. The company’s performance during the quarter exceeded analyst expectations.
CEO Pekka Lundmark said in a statement that the fourth quarter’s highlight was the “stellar” performance of the company’s network infrastructure business unit, which recorded 14 percent revenue growth “with significant operating margin expansion.”…