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Nokia's third-quarter profit beats expectations amid booming AI sales - Finance news and analysis from Global Banking & Finance Review
Finance

Nokia's third-quarter profit beats expectations amid booming AI sales

Published by Global Banking & Finance Review

Posted on October 22, 2026

2 min read

· Last updated: October 22, 2026

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Nokia Third-Quarter Profits Surpass Forecasts Amid Record AI and Cloud Growth

Strong Financial Performance and AI-Driven Growth in Q3 2026

Quarterly Earnings and Financial Outlook

HELSINKI, Oct 22 (Reuters) - Finnish telecom equipment maker Nokia reported a bigger than expected rise in quarterly earnings on Thursday and maintained its full-year financial outlook.

Comparable operating profit rose to 605 million euros ($680.20 million) in the third quarter of 2026 from a year-ago 448 million euros, above the average estimate of 453 million euros in a company-provided poll.

Net Sales and Market Performance

• Comparable net sales rose 10% to 5.15 billion euros in the quarter, versus a company-provided consensus of 5.05 billion euros

• Nokia's share price is up 48% year-to-date

($1 = 0.8894 euros)

AI and Cloud as Key Growth Drivers

Expansion in AI and Cloud Customer Base

• Demand from AI and cloud customers has become an increasingly important growth driver for Nokia

• Group net sales to AI and cloud customers grew by 123% year-on-year, while the order intake to those customer groups rose by 118% to 1.5 billion euros

Future Outlook and CEO Statements

• "We expect our combined Optical and IP Networks businesses to grow between 25% and 30% in 2027," CEO Justin Hotard said in a statement

• "Overall, growth is accelerating, operating leverage is becoming more visible and I'm confident in the long-term shareholder value Team Nokia is creating," Hotard said

Reporting Credits

(Reporting by Essi Lehto, editing by Terje Solsvik)

Key Takeaways

  • Comparable operating profit of €605 million beats €453 million consensus.
  • AI & cloud net sales and order intake surged over 118–123 % year‑on‑year.
  • Optical & IP Networks expected to grow 25–30 % in 2027, signaling strong momentum ahead.

References

Frequently Asked Questions

How much did Nokia's comparable operating profit increase in Q3 2026?
Nokia's comparable operating profit rose to 605 million euros in Q3 2026 from 448 million euros a year ago.
What contributed most to Nokia's revenue growth this quarter?
Demand from AI and cloud customers was the main growth driver, with sales to these groups up 123% year-on-year.
What is Nokia's outlook for its Optical and IP Networks businesses?
Nokia expects its combined Optical and IP Networks businesses to grow between 25% and 30% in 2027.
How much is Nokia's share price up year-to-date?
Nokia's share price is up 48% year-to-date.
Did Nokia meet its full-year financial outlook?
Yes, Nokia maintained its full-year financial outlook for 2026.

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