Nokia Shares Drop 8% After Preliminary Q2 Earnings 
<p><a href='https://financialmodelingprep.com/financial-summary/NOK'>Nokia (NYSE:NOK)</a> announced preliminary results for the Q2 that were below expectations, leading to a more than 8% decline in its shares on Friday.</p>
<p>Nokia anticipates Q2 sales of 5.7 billion euros, falling short of the Street estimate of 6 billion euros. The company also expects a comparable operating profit margin of 11%.</p>
<p>Consequently, Nokia has revised its full-year sales forecast to a range of 23.2-24.6 billion euros, which is lower than the previously anticipated range of 24.6-26.2 billion euros. The outlook for the comparable operating margin range has also been narrowed to 11.5-13%, compared to the previous range of 11.5-14%.</p>
<p>In an update, Nokia explained that these adjustments primarily pertain to its Network Infrastructure and Mobile Networks business groups. The company attributed the weaker demand outlook for the latter half of the year to a combination of macroeconomic factors and customers' inventory management. Customer spending plans have been increasingly affected by high inflation and rising interest rates, leading to delays in certain projects, notably in North America, which is now expected to occur in 2024. </p>

NYSE:NOK