Nokia narrows Q3 loss as Lumia sales spike

Nokia Q3 2013 Earnings

Just in time for the sale of its handset division to Microsoft, Nokia has posted yet another net loss in its third-quarter earnings report released Tuesday. Nokia, which has reported net losses in 9 of the past 10 quarters, posted a $0.02 loss per share on revenue totaling $7.79 billion. Although Nokia’s $125.58 million net loss was narrower than the $1.27 billion loss it reported in Q3 2012, the company’s revenue has still taken an alarming 21.8% drop over the past year from revenue of $9.96 billion in Q3 2012. On the plus side, Nokia’s Lumia sales showed healthy growth on the quarter, growing by 19% year-over-year on sales of 8.8 million Lumia phones.

Source:
Nokia
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