The Finnish telecommunications and network equipment manufacturer Nokia has closed the first quarter of the year with an attributable net profit of 434 million euros, which represents an increase of 55.5% compared to the result recorded in the same period of the previous year. as reported by the multinational.

In the first quarter of 2024, Nokia’s net sales totaled 4,667 million euros, 20.3% less than in the same period of 2023, while R&D spending increased 2%, to 1,135 million euros.

Revenue from Nokia’s mobile network business decreased by 39%, to 1,577 million euros, while infrastructure revenue fell 26%, to 1,662 million, and cloud and services business fell 14%, to 652 million. . In turn, Nokia Technologies’ revenue increased by 213%, to 757 million.

For the year as a whole, the Finnish company expects to achieve an operating result of between 2,300 and 2,900 million euros and an increase in sales in the network infrastructure area of ​​between 2% to 8%, while in mobile networks the Income will drop between 10% and 15%.

“We have seen continued improvement in order intake, which means we remain confident in a stronger second half and achieving our full-year outlook,” said Nokia President and CEO Pekka Lundmark.

In this sense, the executive of the Finnish company has highlighted the evolution since the end of 2023 of the entry of orders in the network infrastructure business. “Considering the strength of ongoing order intake, we expect network infrastructure to return to net sales growth for full year 2024 with stronger performance in the second half,” he said.