Nokia expands comparable profit as AI and cloud demand strengthens

Nokia ($NOK) reported third-quarter 2026 sales of €5.15 billion, up 10% on a reported basis and 9% at constant currency. Comparable operating profit increased 35% to €605 million, with margin rising to 11.7%. Sales to AI and cloud customers more than doubled, while Network Infrastructure revenue increased 15% at constant currency.

Reported operating profit nevertheless fell 22% to €196 million because of accelerated restructuring and integration costs. Nokia maintained its 2026 comparable operating-profit outlook of €2.1–€2.6 billion and expects combined Optical and IP Networks growth of 25%–30% in 2027. Some Mobile Infrastructure revenue arrived earlier than anticipated from the fourth quarter, tempering the comparison. The update signals stronger networking demand, but adjusted profitability and shipment timing should be considered alongside the reported earnings decline.

Sources:

• via.ritzau.dk