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Nokia's Q3 2013: $162 million profit from $7.79 billion revenue

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Nokia Q3 2013
Nokia Q3 2013

Nokia has just announced its Q3 2013 financial results, revealing an operating profit of €118 million ($162 million) from €5.66 billion ($7.8 billion) revenue. That's up massively year over year, but nonetheless represents another quarter of middling results. The report is the first since Microsoft agreed to purchase Nokia's phone business, and that division — Devices and Services — performed as expected, posting a small loss of €86 million ($118 million).

As a Wall Street Journal report suggested, Nokia's Lumia line performed stronger than ever before. The company set a record of 8.8 million Lumia sales for the quarter, well up from 7.4 million last quarter and massively up from 2.9 million in Q3 2012. North American sales were stronger than expected at 1.4 million. Sales of non-Lumia devices were down year over year, coming in at 55.8 million versus last quarter's 53.7 million and last year's 76.6 million.

If you take Devices and Services out of the equation — which Microsoft intends to do early next year, Nokia was actually more profitable. Phone business aside, its overall revenue was €2.76 billion ($3.8 billion) and it made €204 million ($280 million) in profit. That bodes well for Nokia's phone-less future — with less employees to pay, less research and development costs, the injection of money from the Microsoft acquisition, and strong performance from its other units, it looks as though the Finnish company's financial recovery will only accelerate.