India, April 25 -- Nokia suffered a setback at the start of 2019, experiencing what its CEO and CFO described as a "weak" financial quarter, the severity of which took investors and analysts by surprise.
The vendor generated revenues of just over ?5 billion (US$5.57 billion), up slightly year-on-year due to favorable currency exchange movements, but it reported an operating loss of ?524 million, much worse than a year ago and a great deal worse than the markets had expected, despite CEO Jajeev Suri having issued a warning in January when Nokia reported a very positive end to 2018.
That loss, plus the fact that key rival Ericsson last week reported a positive financial first quarter, sent Nokia's share price plunging by almost 9.4% to ?4.6...