Thursday, April 16, 2009

Nokia profits drop 90%!

I got to travel to Helsinki a few years ago, in December. I want to December 20th, but I'm probably wrong. It was winter, anyway. And it was to visit Nokia. They wanted to have a chat about some of our APIs, and we went and met a couple of agencies there too. I went with Bart, and we had a pretty cool time.

But, it was dark for most of the time. Dark when I had breakfast. Dark on the way to the office. Dark in the cab to Nokia headquarters. It was light for about 20 minutes during the meeting. And then dark again when we left.
I'd heard about lack of sunlight being a depressing so I was prepared, and I'm a pretty happy-go-lucky guy (at least, I think so), but I actually found it properly oppressive and a bit weird. So I can kinda understand how suicide rates go up.

Anyway, all that aside, I saw that Nokia had a 90% drop in profit this quarter. Operating profit down from nearly 2 BILLION euros, to around 500 million, and net profit (the one that counts) was closer to 100 million. Ouch!

Or so I thought. Turns out, their shares actually rallied 9% on the back of this news, thanks to it being better than expected, mostly because everyone had thought they were going to do so much worse!

Anyway, you can read all the details over at Google, thanks to the Associated Press (AP), whose news we've hosted since 2007.

No comments: