Nokia shares soared nearly 10 percent Thursday despite a plunge in first-quarter profits as the cellular powerhouse maintained its market outlook and sold more mobile phones than analysts had expected.
The world's top mobile phone maker said net profit was only euro122 million ($161 million), compared to euro1.2 billion in the same period last year.
Sales fell 27 percent to euro9.3 billion ($12.2 billion), from euro12.7 billion in the first quarter of 2008.
Both figures came in below expectations but investors were relieved that Nokia stuck to its projections for the global mobile phone market and its target of boosting market share this year. …
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