Why Nokia Stock Is Plummeting Today
Shares of (NYSE: NOK) are tumbling on Thursday. The company's stock lost 8.8% as of 3:20 p.m. ET and was down as much as 11.1% earlier in the day. The steep decline comes as the S 500 and Nasdaq Composite were up 1.7% and 2.2%, respectively.
The Finnish telecom and consumer electronics company posted numbers for its first quarter of 2025, coming in well below Wall Street targets.
Nokia's earnings report shocked investors with Q1 earnings of $176.9 million, a substantial 36% miss. Analysts had expected $277.2 million. There was a one-time charge in its mobile networks division that helps explain the massive miss, but even after adjusting for the charge, the company's earnings fell short. Sales underwhelmed investors too, down 3% year over year.
Source Fool.com
