Unless I'm misreading, they beat on the bottom line, the handset number they are using was 1 million more than what the company projected, and I think they slightly missed revenue?
They shipped 7.4 million Lumia smartphones in the quarter, up 32 percent from the first quarter but fewer than the 8.1 million units analysts had anticipated.
Regular mobile phones Sales were a little weaker than expected at 53.7 million units compared to the market's expectation for 56.2 million.
Its cash reserves were in line with market expectations at 4.1 billion euros.
Overall not bad.
Buy on any dip today
The guest on CNBC Europe could not stop talking about how great the results were as they validated MS phones and Nokia as the major 3rd eco sys plus he is gaga over the new 41 pixel camera, said the only thing better were some $20,000 professional cameras. Overall, a great quarter for smartphone sales and everything else was okay and or inline although feature phone sales were down 4% from last quarter and we already know those were horrendous. Still it says Nokia is executing extremely well on the smartphone side and predictions for 3rd qtr and for increased revenues...whatever that means. Initial reaction in Europe down up to .20 e, now around .08e but that is on a 15 minute delay. We'll see as the afternoon progresses. Overall, I think this is a win and hopefully the market will see it that way also.
I like this to actually. The only thing bad was the 8 million unit miss but we still sold a ton more than last quarter so thats great. I love the cash # were not bad off at all. Everyone already knew from bbry sammy and apple result that sector was down so I think the bad was already pretty baked in. We'll be fine if not today after 3 days of volitility