Nokia Oyj reported a first-quarter operating loss of 1.34 billion euros ($1.8 billion), burdened by costs at the unprofitable equipment venture with Siemens AG. The stock sank to the the lowest price in 15 years.
Siemens AG Chief Executive Officer Peter Loescher lent his face to a company advertising campaign last month that promoted a greater focus on renewable energy. Investors are still waiting for evidence the foray will pay off.
Nokia Oyj, the world’s biggest maker of mobile phones, may report its second-lowest profit in more than a decade for the first quarter as competitors reduce prices in both smartphones and standard handsets.
Alcatel-Lucent SA, France’s largest telecommunications equipment maker, fell the most in almost three years in Paris trading as second-quarter sales missed estimates and amid concerns that the U.S. market is slowing.
Alcatel-Lucent, the latest technology company to announce plans to make money from its patents, may generate several hundred million euros this year alone from its trove of 29,000 rights, Chief Financial Officer Paul Tufano said in an interview today.
Alcatel-Lucent SA ’s first-quarter loss narrowed as sales surged in North America. The stock dropped as analysts said France’s largest telecommunications equipment maker needs to improve revenue growth in other markets.
Most European stocks declined as companies from Volkswagen AG to Credit Suisse Group AG reported earnings that missed analysts’ estimates and as U.S. lawmakers moved no closer to a deal to avert a default.