Nokia + Alcatel-Lucent Means Q1 Revenue Decline

Nokia’s stock fell about 7.4 percent this morning after the company reported first-quarter net revenue of €5.6 billion (US$6.4 billion). This would have compared to net revenue of €6.1 billion ($6.9 billion) in the same quarter of 2015 “on a comparable combined company basis” if Alcatel-Lucent had been a part of Nokia during that time. Hence, total comparable revenue fell 9 percent. In the company’s first earnings report since acquiring Alcatel-Lucent for €15.6 billion ($17.7 billion), Nokia reported a net loss of €513 million ($583 million) compared with a €177 million ($201 million) profit a year earlier as a standalone company.