Nokia Corporation reported earnings results for the fourth quarter and full year and year ended December 31, 2012. For the quarter, the company reported net sales of €8,041 million against €10,005 million a year ago. Operating profit was €439 million against loss of €954 million a year ago. Operating profit (non-IFRS) was €635 million against loss of €478 million a year ago. EPS diluted was €0.05 against LPS of €0.29 a year ago. EPS diluted (non-IFRS) was €0.06 against €0.06 a year ago. Net cash generated from operating activities was €563 million against €634 million a year ago.

For the year, the company reported net sales of €30,176 million against €38,659 million a year ago. Operating profit was €2,303 million against loss of €1,073 million a year ago. Operating profit (non-IFRS) was €126 million against loss of €1,825 million a year ago. LPS was €0.84 against €0.31 a year ago. LPS diluted (non-IFRS) was €0.17 against EPS of €0.29 a year ago. Net cash used in operating activities was €354 million against net cash generated from operating activities of €1,137 million a year ago.

The company provided earnings guidance for the first quarter of 2013 and full year of 2013. For the period, the company expects non-IFRS operating margin in the first quarter 2013 to be approximately negative 2%, plus or minus four percentage points.

The company continues to target to reduce its Devices & Services non-IFRS operating expenses to an annualized run rate of approximately €3.0 billion by the end of 2013.