Nokia’s results beat analysts’ forecasts

April 30, 2014 11:10 am

Nokia has reported a better than expected year-on-year rise increase in the quarterly profit of its network equipment unit, its core business after the sale of phone division to Microsoft, Reuters has reported. The Finnish company said its first-quarter operating profit for the networks business grew 10% from a year ago to €216m ($299m), topping all forecasts by analysts which had an average expectation of €143m. The company also announced that Rajeev Suri, the chief of its networks unit, will become the group’s next chief executive next month and said it would return €2.25bn to shareholders.