Nokia’s Struggling Networks Business Just Sent Its Stock Plunging

Nokia’s share price fell by more than 15% on Thursday, after the company reported a continuing decline in its telecommunications equipment business that it said will run into next year.

In its third-quarter results, Nokia reported a 9% year-on-year drop in revenues from its networks business, including a 17% fall for its “ultra broadband networks” division. Overall, its revenues were down 7%.

Analysts had forecast operating profits of EUR432 million ($510 million) for Nokia’s...

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