Why Nokia Stock Just Crashed 19.5%

Oof! That hurts. Nokia (NYSE: NOK) reported its third-quarter 2020 earnings Thursday, and in late morning trading the stock is getting clobbered -- down 19.5% as of 11:30 a.m. EDT.

Heading into earnings, analysts had forecast that Nokia would book a small $0.07 per share profit on sales of about $6.3 billion. In fact, Nokia earned a bit less than $0.05 (four euro cents), and its sales were less than $6.2 billion, thus "missing" on both the top and bottom lines.

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Source Fool.com