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