Nokia falls on the stock market after cutting guidance

Finland’s Nokia released a trading update that lowered its full-year net revenue forecast to a range of 23.2 billion euros ($26.05 billion) to 24.6 billion euros, from 24 6 billion to 26.2 billion euros. The company also reduced its comparable operating margin to 11.5%-13% from 11.5%-14%.

The company reported a preliminary quarterly result of €5.7 billion in net sales, below Refinitiv analyst estimates of €6 billion.