HELSINKI: Nokia has reported better than expected second-quarter earnings on the back of improved margins for telecoms equipment and software despite the coronavirus crisis causing a substantial drop in revenue.The Espoo, Finland-based maker of new-generation 5G mobile and other networks said Friday that its net profit for the April-June period was up 22% at 316 million euros ($376 million).
Sales were down 11% at 5.1 billion euros.CEO Rajeev Suri said in a statement that the majority of the drop in revenue was "the result of COVID-19 as well as a sharp decline in China based on the prudent approach we have taken in that market."Nokia estimated that the COVID-19 crisis hurt its net sales by about 300 million euros in the second quarter and.