Top mobile phone maker Nokia beat all profit forecasts in the first quarter and lifted its outlook for the sector on strong global demand to boost tech stocks.
The world's biggest handset maker today posted first-quarter earnings of €0.19 per share versus €0.16 a year ago.
Sales jumped 17 per cent year-on-year to €7.4 billion, at the top end of market forecasts.
"Nokia's overall first-quarter performance . . . brought double-digit growth at the top line, including year-on-year sales growth for each of our four business groups," Chief Executive Jorma Ollila said.
Nokia has been expected to prove that its new models would help it regain ground on rivals after a grim 2004 for the firm.
Last year, it slashed prices to halt a decline in its market share due to a lack of attractive camera and clamshell phones.
Nokia shares jumped nearly 6 per cent on the news and were trading at €12.46 earlier today.