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Why Nokia Stock Crashed Today

Rich Smith, The Motley Fool
·2 min read
Why Nokia Stock Crashed Today

Nokia (NYSE: NOK) shares are tanking in late-morning trading Thursday -- off 9.4% as of 11:55 a.m. ET -- after the Finnish telecommunications technology company reported an earnings miss for its first quarter 2023. Heading into the quarter, analysts had forecast that Nokia would earn approximately $0.08 per share on $6.2 billion. Nokia's actual earnings, however, when converted into USD, worked out to just $0.05 per share -- this despite the fact that revenue of $6.4 billion exceeded expectations.

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