Nokia Q2 sales meet expectations, helped by AI and cloud demand

Nokia Oyj

23/07/2026 06:10

    

    Overview
  
Finland network equipment maker's Q2 net sales rose 8% on reported basis, meeting analyst expectations
Comparable Q2 diluted EPS rose 75% yr/yr to EUR 0.07
Company declared EUR 0.04 per share dividend for Q2

    

    Outlook
  
Nokia sees 2026 comparable operating profit at EUR 2.1-2.6 bln, a "technical revision" from EUR 2.0-2.5 bln
Company expects Q3 net sales to rise 3-7% q-o-q, with flat operating profit from Q2
Nokia expects a meaningful increase in operating profit in Q4 2026

    

    Result Drivers
  
AI & CLOUD DEMAND - Net sales to AI and cloud customers more than doubled yr/yr, driving overall growth, per company
NETWORK INFRASTRUCTURE GROWTH - Optical Networks sales grew 20% and IP Networks 16% yr/yr, supporting 12% growth in Network Infrastructure segment
SUPPLY CONSTRAINTS - Strong demand and ongoing supply limitations led customers to place longer-term orders, according to management

    
Company press release: ID:nGNE7rkkrG

    

    Key Details
  

            Metric
          

            Beat/Miss
          

            Actual
          

            Consensus Estimate
          
Q2 Sales
Meet
EUR 4.82 bln
EUR 4.82 bln (14 Analysts)
Q2 Adjusted EPS
 
EUR 0.07
 
Q2 Adjusted EBIT Margin
 
9.00%
 

    

    Analyst Coverage
  
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 12 "strong buy" or "buy", 6 "hold" and 9 "sell" or "strong sell"
The average consensus recommendation for the communications & networking peer group is "buy."
Wall Street's median 12-month price target for Nokia Oyj is €9.75, about 6.4% above its July 22 closing price of €9.17
The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 21 three months ago

    

    Reuters Recommended Reads
  
July 23 - Nokia Q2 profit beat on AI demand
July 22 - Finland's TietoEVRY Q2 revenue falls on consulting demand weakens
July 22 - Texas Instruments Q2 revenue beats, helped by data center demand

    
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)