Nokia Reports Q2 2012 Results: ?7.5 billion In Net Sales, Negative EPS Of -$0.09

Nokia has just released its fiscal Q3 2012 financials. It’s reported ?7.5 billion in net sales, a slight increase from ?7.4 billion last quarter. Lumia sales are up to 4 million, and basic devices were also up to?73 million units. But it’s being done at discounted costs: net sales are down by five percent. Earnings per share are at -$0.09, failing to meet analyst guidance. Analysts expected the company to report a loss per share of between?$0.10?and $0.11, a drop of nearly 220 percent on the same quarter a year ago. Revenue estimates were $7.3 billion for the quarter, down slightly from the $7.4 billion reported for last quarter. It’s disappointing, but it shouldn’t come as a surprise. In June, Nokia had issued an update on its guidance for the quarter to revise down expectations. It said it expected higher restructuring charges — ?1.9 billion for the next two years — along with unprofitability in the devices unit with operating margins at more than negative three percent (before it had been a straight negative three percent). For a slightly heartbreaking backstory on a company that might have been looking to innovate too much before its time, and too slow to move with changes in the industry, check out this feature in the WSJ. Developing?

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