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"Nokia's Bullish FY24 Outlook and Share Buyback Program Drive Stock Gains"

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Source: CNBC
"Nokia's Bullish FY24 Outlook and Share Buyback Program Drive Stock Gains"
Photo: CNBC
TL;DR

Nokia announces a $653 million share buyback program after reporting a significant decline in profit for 2023, causing its shares to jump 7%. The company warns of a challenging 2024 due to shifts in customer behavior, macro-economic environment, and high interest rates. Nokia's mobile networks division saw a 17% year-on-year sales decline in the fourth quarter, with India's slowing investment and AT&T's decision impacting its performance. The company also lowered its comparable operating margin target for 2026 from at least 14% to at least 13% in light of current market conditions.

Topics:businessbusiness-technology#business-technology#challenging-2024#mobile-networks#nokia#share-buyback#telecommunications
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  1. Nokia jumps 7% as it announces $653 million share buyback program, warns of challenging 2024  CNBC
  2. Nokia beats profit expectations and forecasts demand recovery  Reuters.com
  3. Nokia Says Network Infrastructure Demand May Pick Up in 2024  Yahoo Finance
  4. Nokia (NYSE:NOK) Gains on Bullish FY24 Outlook - TipRanks.com  TipRanks
  5. Nokia Earnings Miss. But Outlook Pushes Stock Higher.  Barron's

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