Nokia reports a 66% gain in operating profit for Q4 2014

Nokia reports a 66% gain in operating profit for Q4 2014
Nokia said that 2014 was a year of reinvention for the company. Because of the sale of Nokia Devices and Services to Microsoft, the company had to change. Still, Nokia reported operating profits of $512 million for the fourth quarter of 2014. That was a 66% gain from the $309 million operating profit that Nokia reported for the fourth quarter of 2013. Revenue for the three month period rose to $4.3 billion from the $3.9 billion it reported last year.

For the whole year, revenue was flat at $14.4 billion. Operating profits dropped from $585 million for 2013 to $192 million last year. For the fourth quarter, margins were up a full percentage point year-over-year to 43.5%. For the full year, Nokia said that its profit margin rose from 42.1% to 44.3%.

HERE maps saw its net sales rise 15% year-over-year for the fourth quarter, to $330 million. HERE is now available for Android phones in the Google Play Store. Nokia Technology, the division that houses patents and IP saw year-over-year sales rise 23% in the fourth quarter as Microsoft became a licensee due to its purchase of Nokia Devices and Services.

source: Nokia

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