Nokia posts 'solid' Q2 results, stock soars

Finnish telecom group Nokia reported on Thursday that its network equipment business had significantly improved sales and profitability in the second quarter, sending its share price soaring more than six per cent.

The company reported group sales increased nine per cent compared with the same period last year, to Euro 3.2 billion ($3.5 billion).

"I am particularly pleased by Nokia Networks, which rebounded dramatically from its tough start to the year," Nokia's chief executive Rajeev Suri said in a media conference call.

The group's second quarter attributable net profit was down to 347 million euros, compared with 2.5 billion euros last year, the drop resulting from discontinued operations

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