Nokia Non-GAAP EPS of €0.13 beats by €0.02, revenue of €6.41B misses by €70M

• Nokia press release (NYSE:NOK): Q4 Non-GAAP EPS of €0.13 beats by €0.02.
• Revenue of €6.41B (-2.1% Y/Y) misses by €70M.
• Comparable operating margin of 14.2% (reported 11.5%) in Q4
• Comparable Gross margin 4.1% (reported 39.5%).
• 2022 Guidance: Net sales €22.6B - €23.8B;
• Comparable operating margin in the range 11% - 13.5%.
• New long-term targets to grow revenue faster than the market and a comparable operating margin of ≥14%.
• Board proposes dividend authorization of €0.08/share. Share buyback program to be initiated to return €600M over 2 years.

Comments

[Scarter947]

Hey SA - Before you let people like Manta Mayani ruin your credibility be sure to check the numbers before they post something about the upcoming earnings. This Titled Article says Nokia Beat EPS, but Missed Revenue. Yet if you click on your Earnings Tab for Nokia, it reads this:

Latest Quarter's Earnings
Announce Date
02/03/2022
EPS Normalized Actual
$0.15 (Beat by $0.02)
EPS GAAP Actual
$0.14 (Beat by $0.03)
Revenue Actual
$7.33B
Revenue Surprise
Beat by $54.89M

If you want people to think that Seeking Alpha isn't a FRAUD manipulating Algos with false information, clean it up.

[Scarter947]

SA (Manta Mayani) - It's time for you to update with a FORMAL CORRECTION your headline claiming that Nokia missed revenue by €70M and you can confirm this by looking at the Earnings Summary on Seeking Alpha that correctly indicates that Nokia BEAT the revenue expectation in Q4 2020 by $54.89M. Your misinformation has cost people money which falls on you.

[Scarter947]

SA (Manta Mayani) - You state that Nokia "Missed" Rev by €70M, but your own site indicates a revenue estimate of $7.28B. Again, if my math is correct. €6.414B (as reported) in revenue equates to $7.26B based on the exchange rate of 1.1323 at the end of 2020 or $7.34B based on today's exchange rate of 1.1437.

So HOW actually did you determine that Nokia missed revenue by €70M? Your numbers don't add up.

[Scarter947]

SA (Mamta Mayani) - Please correct me if I'm wrong, but based on current exchange rates, Nokia delivered $0.44 EPS for 2020 vs. your Estimate of $0.40 for 2020 & $0.41 for 2021. Correct? Looks like they are years ahead of schedule and included a Dividend & Buyback so EPS estimates for 2022 & 2023 respectfully needs to be increased to $0.50 & $0.55+ to be more realistic. You need to do some updating!

[Introspec1]

Recall some institutional buyers can't purchase non-dividend payers

[Allu]

@Introspec1 Good point!

[wrscomncents]

It's always nice to get a dividend while waiting for a turn around. Granted only slightly over one percent at current price but better than zero.

[Mpsvk]

@wrscomncents Actually, the board of directors have today proposed to the AGM, a $0.08 of dividend for results of 2021 and this will be paid on a quarterly basis.

[wrscomncents]

@Mpsvk

Okay thanks. That's definitely better.

[divaka]

So happy the price went down with these great news, that is excellent time for me to buy more and hold for the inevitable stock price jump in the next couple of months! But now or miss the opportunity.

[chickenmantesta]

@divaka I take it as good news. Bought some more shares today and now will just wait and see for the next few months.

[millzee32]

Announcing 15% sales growth in 2022 with an increase in margins too and the stock heading down. You can't make this stuff up. Oh and also announcing a buyback and reinstating dividends. This was not good news this was great news so in typical NOK fashion it gets manipulated lower. When will the madness end and the stock be valued for its fundamentals? Still waiting.

[CrimsonPhoenix]

@millzee32 "b-b-but .... FaceBook & p-p-panic sell!" Yeah, I agree, it's like watching an annoying kid taking the needle off your favorite record and then dropping it haphazardly back near the start, w/o regard for the needle or the record ... damn, it appears I've turned into a crusty ol' angry fart ...'Oh Nooooooooooo'

[redleader55]

@millzee32 Not just NOK. When WS misses an opportunity, stocks get 'manipulated'[sold] down, the weak hands sell out in consternation and JPM, GS et al pick them up. They have deep pockets, have all the insider tools and can out wait retail. Buy yourself some diamond gloves.

[drlbm]

Instituting a dividend again should play well in the future! Best wishes to all.

[qdmj6]

I can't be satisfied with a dividend of EUR 0.08 per share and EUR 600m buyback program of shares. Words of Mr Lundmark more impressive than his deeds, and the latter are that matter in the final analysis.

[Andreas Hopf]

Nokia has 5,675,461,159 shares outstanding. At the current price of €5.20 the €600 million would retire 115,384,615 shares, a reduction of 2%. The 10 year high was €7.20 in April 2015.

$10 at the end of the year ; )

[kevinconnolly]

@Andreas Hopf Senior will pay attention to your call of $10.00 by end of year. Your comments on Seeking Alpha for years have been "SPOT ON" when it comes to a dead man walking named Nokia!!

[Menevamies]

@Andreas Hopf $10? Not by the end of 2022 but 2023 surely! That is 75 % upside. I´ll take it. For the same period S&P 500 will probably be somewhere between flat and +20 %.

[fortbrepoels]

NOK will payé again a dividend over 2021 , that is good news

[Domeci]

Nokia hit the ball out of the part. Excellent earnings. This is the stock to be in clearly.

[Allu]

@Domeci Wish I could share your optimism. NOK down 4% this morning. Certainly not a ball out of the park to be seen!

[CrimsonPhoenix]

Sounds pretty good to me. Just enough of a dividend to allow a slight bump up each year without breaking the bank and enough shares bought back to perhaps cause a slight ripple in the share price. I imagine that still leaves them with plenty of cash to do everything else that might need doing, but I'll leave that to the experts to decipher.

[Thakoen]

That looks all good to me. Share price can go up.