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Nokia (NOKIA FH) Q2 2026 (EUR): EPS 0.07 (exp. 0.06), Revenue 4.82bln (exp. 4.92bln), Comparable operating profit 434mln (exp. 382mln)

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Nokia beat profit expectations and raised FY26 guidance despite a revenue miss, fueled by a 105% surge in AI/Cloud sales and strategic restructuring of non-core business units.

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Other Metrics: Network infrastructure net sales 2.04bln (prev. 1.83bln Y/Y). Mobile infrastructure net sales 2.68bln (prev. 2.53bln Y/Y). Guidance: Sees FY comparable operating profit between EUR 2.1-2.6bln (prev. guided 2-2.5bln). Net sales: Nokia assumes a 3% to 7% Q/Q increase in net sales in Q3. Comparable operating profit: Nokia assumes comparable operating profit will be largely flat from Q2 into Q3 due to the phasing of software revenue recognition. Nokia then expects a meaningful increase in Q4.

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