Nokia Siemens Networks posts 18% revenue growth

Nokia Siemens Networks, the network equipment and software joint venture, finished a quarter full of positive news by reporting surprisingly strong revenue growth of 18 percent to $6.45 billion over the second quarter of 2007, which was the first reporting quarter  for the company. Since last year, the company has overcome very public struggles, including Siemens' initial disappointment with the venture, to nearly reach an operating profit. NSN reported an operating loss of $74.5 million for the second quarter of 2008, but without ongoing integration costs related to the merger, it would have crossed over into profit.

NSN had a busy second quarter in terms of deal announcements, including an broadly significant agreement to take over management of Embarq's voice network operations. The company also landed deals with Chunghwa Telecom and China Mobile, and announced an intriguing optical platform that integrates core and metro capabilities rather than leaving them in separate boxes. Overall, the Q2 numbers give a sense that NSN has turned a corner after an ambitious but challenging merger. Followers of the vendor merger beat will next want to watch for Alcatel-Lucent's quarterly report, due July 29.

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