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Nokia profit misses consensus by 46.1% in Q2

Nokia Corp. said its second-quarter normalized net income was €162.1 million, an increase of 400.8% from €32.4 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 2.9% from 0.6% in the year-earlier period.

Total revenue came to €5.62 billion, compared with €5.58 billion in the year-earlier period, and total operating expenses decreased 4.9% year over year to €5.32 billion from €5.59 billion.

Reported net income came to a loss of €396.9 million, or a loss of 7 cents per share, compared with a loss of €692.6 million, or a loss of 12 cents per share, in the year-earlier period.