Also in today's EMEA regional roundup: HERE's new boss; Orange slows decline; Telefónica's IoT Lego.
The "new" Nokia's financial recovery seems to have hit its stride, according to its third-quarter results, which show revenues up 13% year-on-year to €3.3 billion (US$4.17 billion) and improved gross margins. In its results statement, Nokia Corp. (NYSE: NOK) pointed to major new LTE network deployments in North America and "Greater China" as being primary drivers of growth. Investors were impressed: Nokia shares on the Helsinki stock exchange were up 4.07% to €6.78 on Thursday morning. (See Nokia Reports Improved Sales, Margins in Q3 and Nokia Holds Steady in Q2, Raises Outlook.)
Nokia's navigation technology unit, HERE, held its end up in the quarterly results, showing 12% year-on-year growth. To help maintain the momentum, Nokia has appointed Sean Fernback, formerly with sat-nav vendor TomTom, as president of HERE. The previous head of HERE, Michael Halbherr, stepped down in August.
Orange (NYSE: FTE)'s third-quarter numbers show it has slowed the rate of its revenue decline -- but the trend is still down. Revenues fell 3.2% year-on-year to €29.39 billion ($37.21 billion), while EBITDA (earnings before interest, tax, depreciation and amortization) fell 3.1% to €9.38 billion ($11.87 billion). Speaking on the results call, CFO Ramon Fernandez said that while Orange was still interested in consolidation in its home mobile market, it was not, Reuters reports, prepared to make the first move.
Away from the earnings frenzy, Telefónica SA (NYSE: TEF) has quietly released what it claims is the first mainstream consumer product for the Internet of Things (IoT). Called "Thinking Things," it looks like a particularly dull set of Lego bricks, but is actually a set of modular devices fitted with different sensors which use 2G connectivity to connect to the cloud and enable users to monitor temperature, humidity and light in a given space. For more details and an explanatory video, see this press release.
Revenues at Telekom Austria Group in the first nine months of 2014 declined 4.5% year-on-year to €2.98 billion ($3.77 billion), though the carrier said 80% of this decline was attributable to regulatory measures. A cost-cutting program helped translate this into a 0.9% growth in EBITDA, however. Telekom Austria is now controlled by Carlos Slim's América Móvil S.A. de C.V. , which sees ownership of the carrier as a platform for further expansion into Central and Eastern Europe. (See Euronews: Austria Braced for Slim Bid .)
Third-quarter revenues at ADVA Optical Networking were up 10.2% year-on-year at €87.1 million ($110.32 million), with the vendor pointing to enterprise business that has been boosted by the widespread adoption of cloud-based services requiring beefed-up networks.
— Paul Rainford, Assistant Editor, Europe, Light Reading