Nokia poised to take off after strong second quarter earnings

It is going to be a strong open today for Nokia Corp. (NYSE: NOK) following its strong second quarter earnings report. Not only was the company able to beat earnings estimates, but it also grew its market share by 4% year over year.

For the quarter, Nokia earned 32 euros per share, ahead of analysts' forecasts of 25 euros. On top of the strong earnings, the company also showed its highest operating profit margin in three years at a respectable 18.7%.

As we mentioned earlier, the company has been able to manage a 4% growth in global market share over the past 12 months, and half of that growth was witnessed during its recent quarter. At the end of the first quarter, the company claimed 36% of the global market, so a jump up to 38% was a very strong move to make over three months.

Looking forward to the full year 2007, the company now expects global device volumes to move higher by at least 10%. This is slightly more optimistic than its previous estimates of volume growth rising up to 10%.

All in all it was a great quarter, and one that should be rewarded on Wall Street. Look for a very strong today for this Finnish company!

Michael Fowlkes has worked as a stock trader for seven years and spent the last two years working as an analyst for the online investment advisory service Investor's Observer.