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July 19, 2012 02:04 pm GMT

Nokia Reports Q2 2012 Results: $9.2B In Net Sales, Operating Loss Nearly Doubles, 4M Lumia Smartphones Sold

nokia-logoNokia has just released its fiscal Q2 2012 financials. It's reported 7.5 billion ($9.2 billion) in net sales, a slight increase from the 7.4 billion last quarter but a 19 percent drop on a year ago. Lumia sales are up to 4 million, and basic devices were also up to73 million units. But it's being done at a great cost: net sales are down by five percent, and the operating loss is almost twice the value it was last quarter: 826 million ($1.01 billion) compared to 487 million a year ago. Earnings per share are at -$0.09, failing to meet analyst guidance.Analysts expected the company to report a loss per share of between$0.10and $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.

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