Analyst Commentary

Cost-cutting initiatives enabled Nokia to remain profitable in 4Q16, even as revenue woes persisted

Nokia’s customer and product strategy buoyed margins in the current quarter, but reduced CSP capex will continue to hinder revenue growth in 2017 Nokia’s revenue and margins contracted in 4Q16, driven by revenue declines in the company’s Networks and Technologies units, partly offset by higher sales from Nokia’s Group Common Functions, in which sales are lower-margin in nature. Though lower capex spend from telecom customers continues to be the driving force for revenue woes, we believe Nokia is prudently managing engagem...

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