Nokia CEO Rajeev Suri explained that the “better-than-expected profitability” showed that the vendor’s ongoing cost rationalization efforts were starting to pay off.
“Year-on-year declines in our advertising revenues from search and network were offset by growth in Google other and Google Cloud revenues,” CFO Ruth Porat said.
“Now that we’re all much more aware of the implication of the pandemic, we have to realize that a cyber pandemic can expand much faster than a biological one,”
While sales of legacy equipment are in decline, Ericsson reported a strong demand for its cloud-native and 5G portfolio, including multiple large customer wins on the 5G core.