Nokia Corporation NOK is scheduled to report fourth-quarter 2021 results on Feb 3, before the opening bell. In the last reported quarter, the company delivered an earnings surprise of 12.5%. It pulled off a trailing four-quarter earnings surprise of 209.4%, on average.The Finland-based telecom equipment vendor is expected to have recorded year-over-year lower revenues due to supply-chain constraints and headwinds in the Mobile Networks segment in North America.Factors at PlayDuring the quarter, Nokia was selected by ARC Solutions to provide a high-capacity data center interconnection solution in the Middle East. ARC, a joint venture between UAE’s du and Bahrain’s Batelco, provides networking solutions that simplify connecting and optimizing applications and services across the Middle East.Nokia’s Digital Operations software was deployed by Sunrise UPC Communications to modernize its Operations Support Systems. Sunrise UPC is the largest private telecommunications company in Switzerland.Nokia collaborated with Ooredoo Group to deploy multiple technologies, including 5G, radio access network, Core, Optics, IP and microwave, in the Middle East, North Africa and Southeast Asia.Nokia announced that Shinsegae I&C, a leading retail tech company in South Korea, plans to upgrade its Multi-Protocol Label Switching (MPLS)-Virtual Private Network transport network with Nokia’s IP/MPLS solution for better network performance.Nokia inked a deal with KDDI Corporation to support the Japan-based carrier’s transition to a fully-automated 5G core architecture. This will enhance network scale to enable subscribers to experience lower latency and higher capacity.Nokia partnered with Teletalk Bangladesh to deploy the first 5G network in the South Asian country. The initiative aligns with the government’s digital goals to drive automation and Industry 4.0 in the country. These developments are likely to have aided Nokia’s performance in the quarter.The Zacks Consensus Estimate for Nokia’s revenues is pegged at $7,399 million, which indicates a decline of 5.5% from the year-ago quarter’s reported figure. The consensus estimate for adjusted earnings per share is pegged at 12 cents, suggesting a decrease of 29.4%.What Our Model SaysOur proven model doesn’t conclusively predict an earnings beat for Nokia. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Earnings ESP: Nokia’s Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, is +14.29%, as the former is pegged at 14 cents and the latter at 12 cents.Nokia Corporation Price and EPS Surprise Nokia Corporation price-eps-surprise | Nokia Corporation QuoteZacks Rank: Nokia currently has a Zacks Rank #4 (Sell).Stocks to ConsiderHere are some companies that you may want to consider as our model shows that these have the right combination of elements to post an earnings beat this quarter:Hasbro, Inc. HAS is slated to release fourth-quarter 2021 results on Feb 7. Hasbro has an Earnings ESP of +2.50% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.Brixmor Property Group Inc. BRX is scheduled to release fourth-quarter 2021 results on Feb 7. Brixmor Property has an Earnings ESP of +0.82% and a Zacks Rank #2.CNA Financial Corporation CNA has an Earnings ESP of +2.65% and a Zacks Rank #3. CNA Financial is set to report fourth-quarter 2021 results on Feb 7.Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. 7 Best Stocks for the Next 30 Days Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops." Since 1988, the full list has beaten the market more than 2X over with an average gain of +25.3% per year. So be sure to give these hand-picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Nokia Corporation (NOK): Free Stock Analysis Report Hasbro, Inc. (HAS): Free Stock Analysis Report CNA Financial Corporation (CNA): Free Stock Analysis Report Brixmor Property Group Inc. (BRX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research