Nokia narrows Q3 loss as Lumia sales spike

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.