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Nokia loses $1.27 billion in Q3 for sixth consecutive quarterly loss

Updated Dec 19th, 2018 8:39PM EST

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Nokia (NOK) on Thursday posted its sixth consecutive quarterly loss — and fourth consecutive quarterly loss of more than $1 billion. The struggling smartphone vendor’s losses widened to $1.27 billion in the third quarter this year on revenue that was down 19% to 9.45 billion. While the quarter was grim, Nokia did manage to beat Wall Street’s EPS estimates yet again, giving the stock a boost in pre-market trading. Nokia only managed to ship 2.9 million Lumia smartphones powered by Microsoft’s (MSFT) Windows Phone operating system, down from 4 million in the prior quarter. Combined Windows Phone and Symbian smartphone channel sales fell to 6.3 million units, though Nokia’s popular Asha line boosted total mobile phone shipments to 76.6 million units, up from the second quarter. Nokia expects to report another quarterly loss in Q4.


Zach Epstein
Zach Epstein Executive Editor

Zach Epstein has been the Executive Editor at BGR for more than 10 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content. Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment.

His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.