AKIPRESS.COM - Nokia Oyj (NOK1V) reported earnings topping analysts’ estimates as rising network spending by phone carriers helped the equipment maker to its first quarter of sales growth since 2011, reports Bloomberg.

Third-quarter profit excluding some items rose to 9 cents a share from 6 cents a year earlier, the Espoo, Finland-based company said in a statement today. Analysts had predicted 6 cents, the average of estimates compiled by Bloomberg. Sales increased 13 percent to 3.3 billion euros ($4.2 billion), compared with the 3 billion-euro estimate.

Chief Executive Officer Rajeev Suri, who took over in May after Nokia sold its mobile-phone business to Microsoft Corp. for about $7.5 billion, is trying to boost profitability by focusing on more lucrative contracts. Nokia is vying with Ericsson AB (ERICB) and Huawei Technologies Co. to supply base stations, antennas and related services to carriers struggling to boost sales amid intense competition for subscribers.

The adjusted operating margin at the network unit, which makes up about 90 percent of Nokia’s sales, expanded to 13.5 percent from 8.4 percent a year earlier. Revenue at the division rose 13 percent.

Nokia raised its profitability forecast for the network division, saying its full-year operating profit will be slightly above 11 percent. It previously projected the adjusted margin to be at or slightly above the high end of a target range of 5 percent to 10 percent.

The shares rose 1.1 percent to 6.51 euros yesterday in Helsinki, giving Nokia a market value of 24.4 billion euros.