Nokia’s Q1 ‘09 Earnings Per Share Down 90%

Ow. Despite being king of the mobile hill, Nokia (NYSE: NOK) has taken a rough financial blow this quarter, reporting earnings per share were down to 0.03 Euros, a 90.3% drop from the same time last year and 80% drop since last quarter. The net sales themselves are down 24% since last year, while operating profit is down 96.4%. Nokia has had a slow, steady decline over the last couple of quarters, but this is easily the sharpest fall-off to date. Offering severence packages for voluntary lay-offs and taking R&D loans is just some of the fallout of such a situation, but maybe things will look rosier once their Mobile World Congress announcements come to fruition. For  a closer look at the numbers, check out the full quarterly report here.

[via Engadget]