Nokia 2Q profit beats expectations on strong 5G demand

HELSINKI (AP) — Wireless and fixed-network equipment maker Nokia has reported second-quarter profit above analyst expectations on strong demand for 5G technology from phone operators and improved competitiveness of its main business units. The Espoo, Finland-based company reported net profit of 585 million euros ($597 million) on Thursday for the April-June period compared with 539 million euros a year earlier. Net income attributable to shareholders was up 9% at 582 million euros from 532 million a year earlier. Nokia’s sales were up 11% at 5.9 billion euros.