Despite Revenue Dip, Nokia's Q1 Net Profit and Technology Patents Fuel Growth
Despite Revenue Dip, Nokia's Q1 Net Profit and Technology Patents Fuel Growth
Nokia Corp (NYSE:NOK) reported a fiscal first-quarter 2024 net sales decline of 20% year-on-year (19% in constant currency) to €4.67 billion ($5.07 billion), missing the consensus of $5.10 billion. Comparable EPS was $0.10 (€0.09) versus the consensus of $0.06.
诺基亚公司（纽约证券交易所代码：NOK）报告称，2024财年第一季度净销售额同比下降20％（按固定货币计算为19％），至46.7亿欧元（合50.7亿美元），未达到51.0亿美元的共识。可比每股收益为0.10美元（0.09欧元），而市场普遍预期为0.06美元。
The reported net profit is €438 million, up from €289 million a year ago. Comparable net profit was €501 million, up from €342 million a year earlier.
报告的净利润为4.38亿欧元，高于去年同期的2.89亿欧元。可比净利润为5.01亿欧元，高于去年同期的3.42亿欧元。
Network Infrastructure sales declined by 26% year over year in CC due to the weak demand environment. Cloud and Network Services sales decreased by 13% year over year in CC. Nokia Tech sales climbed by 216% year over year, driven mainly by signing patent license agreements with OPPO, Vivo, and other licensees.
由于需求环境疲软，CC的网络基础设施销售额同比下降了26％。CC的云和网络服务销售额同比下降了13％。诺基亚科技的销售额同比增长了216％，这主要是由于与OPPO、Vivo和其他被许可方签署了专利许可协议。
Mobile Network sales declined by 37% year over year in CC due to some moderation in the pace of 5G deployment in India. Net sales slowed primarily due to North America, where demand remained weak.
由于印度5G部署步伐有所放缓，CC的移动网络销售额同比下降了37％。净销售放缓的主要原因是北美需求仍然疲软。
Margins: Gross margin climbed by 1,040 bps to 47.9%, and comparable gross margin improved by 1,090 bps to 48.6%. The margins reflected the benefits of the catch-up net sales in Nokia Technologies and strong improvements in Mobile Networks gross margin, in part due to a more favorable regional and product mix.
利润率：毛利率上升了1,040个基点至47.9％，可比毛利率提高了1,090个基点至48.6％。利润率反映了诺基亚科技追赶净销售额和移动网络毛利率强劲提高所带来的好处，部分原因是区域和产品组合更加有利。
The operating margin increased by 130 bps to 8.6%, and the comparable operating margin grew by 460 bps to 12.8% as licensing catch-up net sales more than made up for low net sales coverage of operating expenses impacting other business groups.
营业利润率增长了130个基点至8.6％，可比营业利润率增长了460个基点至12.8％，这是因为许可补上净销售额足以弥补影响其他业务群体的运营费用净销售覆盖率低。
Nokia held €5.1 billion in cash and equivalents and generated €955 million in free cash flow.
诺基亚持有51亿欧元的现金及等价物，创造了9.55亿欧元的自由现金流。
Dividend and Buyback: The Board resolved to distribute a dividend of €0.04 per share.
股息和回购：董事会决定分配每股0.04欧元的股息。
FY24 Outlook: Nokia reaffirmed 2% – 8% growth for Network Infrastructure sales, (15)% – (10)% change in Mobile Networks sales, and (2)% – 3% change in Cloud and Network Services sales.
24财年展望：诺基亚重申网络基础设施销售增长2％至8％，移动网络销售额增长（15）％-（10）％，云和网络服务销售增长（2）％至3％。
Nokia reiterated comparable operating profit of between €2.3 billion – €2.9 billion and free cash flow conversion from a comparable operating profit of 30% – 60%.
诺基亚重申，可比营业利润在23亿欧元至29亿欧元之间，可比营业利润从30％至60％的自由现金流转换。
The fiscal 2024 revenue and adjusted EPS consensus are $23.56 billion and $0.36.
2024财年的收入和调整后的每股收益共识为235.6亿美元和0.36美元。
Nokia stock plunged 29% in the last 12 months. Investors can gain exposure to the stock via IShares U.S. Digital Infrastructure And Real Estate ETF (NYSE:IDGT) and Defiance Quantum ETF (NYSE:QTUM).
诺基亚股价在过去12个月中暴跌了29％。投资者可以通过iShares美国数字基础设施和房地产ETF（纽约证券交易所代码：IDGT）和Defiance Quantum ETF（纽约证券交易所代码：QTUM）获得股票敞口。
Price Action: NOK shares traded higher by 0.90% at $3.36 premarket Thursday.
价格走势：挪威克朗股价周四盘前上涨0.90％，至3.36美元。
Image: Nokia
图片：诺基亚