US Stock Market Movers | Nokia rises another 5% pre-market after reaching a 16-year high yesterday; Q1 earnings beat expectations

Glonhui April 24｜Nokia (NOK.US) extended its pre-market gains by 5.03% to $10.85; yesterday the stock reached an intraday high of $10.86, marking its highest price in about 16 years since April 2010. It finally closed up 4.77% at $10.33, with a year-to-date rise of more than 60%. In terms of news, Nokia's adjusted operating profit for the first quarter was 281 million euros, up 54% year-on-year, higher than analysts’ average estimate of 244 million euros; adjusted earnings per share were 0.05 euros, beating the market estimate of 0.04 euros. The company still forecasts its adjusted full-year operating profit for 2026 to be between 2 billion and 2.5 billion euros, with the market estimate at 2.3 billion euros. Nokia CEO Justin Hottard stated the company “achieved a good start to the year.” Although the mobile infrastructure division still contributes the majority of sales, the main source of growth is AI and cloud customers. (Glonhui)