NEW YORK, September 17, 2015 /PRNewswire/ --

ACI Association has initiated research coverage on Nokia Corporation (NYSE: NOK). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.

Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/reports?keyword=NOK

Highlights from our NOK Report include:

• Strong Second Quarter Results - On July 30, 2015, Nokia Corporation announced its financial results for the second quarter and first half of 2015. The Company reported net sales of EUR 3.2 billion in Q2 2015, which is 9% higher than EUR 2.9 billion of revenues reported in Q2 2014. As per a Zacks news update released the same day, analysts had estimated Nokia's revenues of EUR 3.6 billion for the reported quarter. According to the Company, sales growth during the quarter was driven by higher net sales in Nokia Networks and, to a lesser extent, in HERE and Nokia Technologies.
  
• Segment-Wise Performance at a Glance - Nokia Networks segment generated net sales of EUR 2.7 billion, reflecting an increase of 6% from EUR 2.6 billion in the previous year quarter. Rise in net sales was primarily due to growth in Global Services by 12% YoY and to a lesser extent in Mobile Broadband by 3% YoY. Non-IFRS operating profit of the segment stood at EUR 313 million, compared to EUR 281 million in corresponding period last year. In addition, HERE net sales in Q2 2015 amounted to EUR 290 million, higher than EUR 232 million in Q2 2014. Increase in HERE net sales can be attributable to rise in sales to automotive customers and enterprise customers.
  
• Year-to-Date Financial Highlights - For the first half of 2015, the Company reported net sales of EUR 6.4 billion as compared to EUR 5.6 billion in the first six months of 2014, which reflected a 14% YoY growth. In addition, operating profit for the period came in at EUR 745 million, higher than EUR 526 billion in the previous year period. Further, diluted earnings per share of the Company amounted to EUR 0.14, compared to EUR 0.02 in prior year period.  
  
• Outlook for 2015 - For the full year 2015, the Company expects capital expenditure to be approximately EUR 250 million, while financial income and expenses are anticipated to be around EUR 160 million. Group Common Functions non-IFRS operation expense are projected to be approximately EUR 120 million in 2015.

To find out how this influences our rating on Nokia Corporation, read the full report in its entirety here: http://www.aciassociation.com/reports?keyword=NOK

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