Q3 Bloodbath: Nokia Hemorrhages $750 Million
October 18, 2012 12:43 PM
comment(s) - last by
But trouble phonemaker does manage to be the street's pessimistic predictions
Generally it's a sign that things are looking fairly dire when a company
goes to sell its headquarters
. And for embattled Finnish phonemaker Nokia Oyj. (
), another quarter has come and gone with news of a
fresh round of financials
[PDF] which, on the surface, look very ugly.
Nokia made €7.24B (~$9.49B USD) in revenue over the quarter, down 4 percent from last quarter and 19 percent from last year. But there was a bit of good news. Of 23 analysts
The Financial Times
(UK), the average expectation was revenue of €6.93B (~$9.08B USD). In other words things look very bad, but not quite as bad as the gloomy estimates lofted by the street.
Also in the good news category, Nokia managed to move 2.9 million Lumia (Windows Phones) in the quarter, despite an
impending update to Windows Phone 8
on the horizon (which will not support current handsets). That's down approximately a quarter from the 4 million moved in Q2, but, again, even the most successful smartphone companies like Apple, Inc. (
at the end of their product cycle.
In the losses category, Nokia reduced its
€826M ($1.08B USD) loss
(Q2) to €576M ($755M USD) (Q3). Losing three-quarters of a billion dollars in a quarter is bad by any measure, but the trimmed loss does offer some signs of hope for Nokia.
Nokia rebuts the argument that Windows Phone 8 and the Lumia
its "last chance" at remaining relevant
in the smartphone argument. However, the sustained quarters of large losses would certainly seem to suggest that time is running out for Nokia -- once the world's largest smartphone maker -- to
win customers back
FT [analyst estimates]
This article is over a month old, voting and posting comments is disabled
RE: So They Come Up With a Winning Strategy...
10/20/2012 10:54:59 AM
In a way yes I have Google ads on my sites for years and had a great month beginning this year then Google decided that they should give clicks on my site for FREE. I get free coffee and hosting out of the deal not going to be rich from it. I sent in tons of WTF on why am I using them if they are not going to pay anything for clicks. Heck if a click only pays a nickle sure its not popular but they downright gave me $0.00 for tons of traffic and clicks. I wasn't accused of click fraud I guess they just decided I didn't deserve anything after having a high month and that they can do whatever the hell they wanted. Now I think they probably did this to a ton of people trying to make up for their poor quarter. Screw the little guy. Its recently changed and now Im getting paid for clicks again but the damage is already done. Ive since removed all but one Google Ad on one site. I suspect that's why other companies might be moving on from using them. Maybe that's a part of their bottom line loss is screwing sites over. The very foundation to what made them.
If Google is on the decline its their own doing.
"And boy have we patented it!" -- Steve Jobs, Macworld 2007
Quick Note: Verizon Could Sell Lumia 822 for $49 with Contract
October 15, 2012, 8:25 AM
T-Mobile Gets Mid-Range LG Optimus L9 'Droid, Nokia Lumia 810 WinPhone
October 8, 2012, 4:55 PM
Nokia Looks to Sell Gleaming Finnish Headquarters
October 3, 2012, 12:44 PM
Nokia Explains Why You Should Get a Lumia 920 Instead of an iPhone 5
September 20, 2012, 2:58 PM
Nokia SVP Says New Lumia 920 and 820 Aren't the Company's "Last Chance"
September 10, 2012, 9:46 AM
Ford to Switch 3,300 Employees from BlackBerries to Apple iPhones by Year's End
July 29, 2014, 2:08 PM
Quick Note: Hilton Hotels to Use Smartphones as Room Keys, for Check-In/Check-Out
July 29, 2014, 12:53 PM
Verizon Wireless to Receive Exclusive "HTC One (M8) for Windows" Smartphone
July 29, 2014, 9:13 AM
Report: Microsoft's Chinese Offices Raided
July 28, 2014, 9:16 PM
Cell Phone Unlocking Bill Heads to President Obama's Desk
July 28, 2014, 11:58 AM
T-Mobile CEO John Legere is on the Warpath Again; Introduces $100, 10GB Family Plan
July 28, 2014, 10:12 AM
Most Popular Articles
Kindle Fire Phone Review Roundup -- A Solid "Meh"
July 23, 2014, 2:09 PM
Ford Details ’15 F-150’s 325hp, 2.7L EcoBoost V6; Demonstrates 732-lb Weight Loss
July 22, 2014, 6:55 PM
Windows 9 Will Merge Windows, Windows Phone, Windows RT in 2015
July 23, 2014, 3:33 PM
Comcast Memo: Harassing Customers During Retention Calls Actually IS Our Policy
July 22, 2014, 5:19 PM
Sony's Xperia Z3 Gets Detailed in Leaked Photos
July 25, 2014, 2:30 PM
Latest Blog Posts
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
Facebook Aims to Provide Internet to "Every Person in the World" with Drones, Satellites
Apr 1, 2014, 10:20 AM
Retail Mobile Sites Experience Outages in Light of Simplexity's Bankruptcy
Mar 14, 2014, 8:48 AM
Tesla vs. BMW: Who Has the Safer EV?
Feb 1, 2014, 2:56 PM
Justice Leaks Details of Next HTC One Two Flagship Phone
Dec 5, 2013, 4:04 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information