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Nokia 2Q Profit Beats Estimates in Growing Market for 5G Gear

The shares of Nokia Oyj advanced after it reported better than-expected earnings and indicated it’s on track to meet full-year guidance amid strong demand for 5G gear from phone carriers.

The Finnish maker of mobile networks on Thursday reported an adjusted operating profit of 714 million euros ($730 million) for the second quarter, beating an average analyst estimate of 640.5 million euros. Adjusted earnings per share came to 0.10 euros, more than estimated by analysts.