Nokia second-quarter profit up 20 percent to $285 million, company gives upbeat outlook

NEWYou can now listen to Fox News articles!

Telecommunications and wireless equipment maker Nokia Corp. says second-quarter profit rose 20 percent to 213 million euros ($285 million) on the back of improved profitability of its key networks unit.

Net sales in the April to June period fell to 2.9 billion euros from 3.2 billion euros in the same period last year. Net profit was 177 million euros a year earlier.

CEO Rajeev Suri said Thursday the result "shows the strength of the company today" as the Finnish firm restructures after selling its mobile phone unit to Microsoft.

He gave an upbeat outlook for the core networks unit which accounts for around 90 percent of Nokia's revenue. Suri said the unit's full-year 2014 operating margin was expected to be near the long-term target of 5-10 percent.