Nokia shares plunged 25% on Thursday after management warned its 2019/2020 profits would be disastrous after a delay in earnings from 5G networks, reported Bloomberg. As a result of the abrupt revision in outlook, the Finnish telecom network equipment maker cut its 2020 forecast and suspended a dividend to investors.

Nokia says 2019 EPS is around 0.18 to 0.24 euros for 2019 and will be around 0.20 to 0.30 euros in 2020. Earlier this year, the telecom maker was expecting EPS to be about 0.25 to 0.29 euros for 2019, and 2020 EPS of 0.37 to 0.42 euros, a dramatic revision lower, which is what spooked investors to panic sell the stock into one of the worst declines in the company’s history in nearly three decades. The last time Nokia puked this hard, most millennial traders weren’t even born….CLICK for complete article