finance report

Nokia has today published its Q1 2013 financial report, which details some interesting numbers showing just how far the company has come since first hopping on to the Windows Phone train. While Nokia has reported an operating loss in the first quarter of 2013 (€150 million), €6.5 billion ($7.65 billion) in revenue was also highlighted. It's not looking all bad for the Finnish handset maker.

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Nokia has finally managed to turn things around. The company has reported a profit of €439 million ($585 million), with €8.04 billion ($10.7 billion) in revenue. These figures were possible through stronger Lumia sales, Nokia Siemens Network and company restructuring. We believe Stephen Elop is currently cruising around with a megaphone, ensuring everyone hears the news.

The number of Lumia Windows Phones sold also saw an increase to 4.4 million, up from just 2.9 million in the previous quarter. We'd consider this as Nokia's most successful quarter since the company partnered with Microsoft and began supporting Windows Phone. As well as profit and sales, Nokia also increased its net cash reserves from €3.56 billion ($4.7 billion) to €4.36 billion ($5.8 billion).

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