News Summary: Nokia loss widens to $1.27 billion

Associated Press Modified: October 18, 2012 at 9:31 am •  Published: October 18, 2012
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WEAK RESULTS: Nokia Corp. says its third-quarter net loss widened to €969 million ($1.27 billion) as revenue plunged 19 percent compared with the same time last year and sales of its flagship Windows Phone fell to under 3 million units.

NOT AS BAD: Investors had been expecting an even bigger drop in sales and sent shares in the company higher.

LOOKING FORWARD: Nokia gave a grim outlook for the rest of the year as it prepares for this fall's launch of Microsoft Corp.'s phone software.