Nokia reports wider loss in Q1, meets revenue expectations

Nokia Corp. (NYSE:NOK) on Thursday reported a net loss of $62.1 million for its first quarter, as challenging market conditions impacted the telecommunications technology company's profitability.  

The company based in Espoo, Finland, announced a loss of 1 cent per share.

After adjusting for non-recurring costs, Nokia's earnings came in at 3 cents per share.  

These results fell short of Wall Street's projections.

The average estimate of five analysts surveyed by Zacks Investment Research was for adjusted earnings of 5 cents per share.

For the quarter, Nokia reported revenue of $4.62 billion, which was in line with Street forecasts.