Nokia posts Q3 growth as AI and cloud demand accelerates
+5 new sources since this summary was written
Nokia reported its Q3 2026 results on 22 October 2026, with net sales up 9% year over year on a constant-currency basis and 10% on a reported basis. Network Infrastructure sales increased 15% on a constant-currency basis, while AI and Cloud customer sales rose 123%. Comparable operating margin expanded 220bps to 11.7%, and comparable diluted EPS from continuing operations was EUR 0.09 versus reported diluted EPS of EUR 0.03. Nokia left its full-year outlook unchanged.
Why it matters
The company continues to forecast full-year comparable operating profit of EUR 2.1 billion to EUR 2.6 billion, so the reported quarter does not change its stated earnings framework. The stronger comparable results increase the portion of the outlook already delivered, while reported profitability remains affected by restructuring and integration costs.
Key facts
- 1Q3 net sales were 5 154 EUR million on a reported basis, compared with 4 700 EUR million in Q3'25. marketscreener.com
- 2Comparable operating profit was 605 EUR million, up 35% from 448 EUR million in Q3'25. marketscreener.com
- 3Network Infrastructure net sales increased 15% year over year on a constant-currency basis, while Mobile Infrastructure net sales increased 5%. marketscreener.com
- 4Nokia's full-year 2026 comparable operating profit outlook is EUR 2.1 billion to EUR 2.6 billion. marketscreener.com
Open questions
- One report gives a different AI and Cloud sales growth rate from Nokia's interim report.
- A single report attributes higher restructuring costs and weaker free-cash-flow conversion guidance to Nokia, but those details are not confirmed by the interim-report material provided.
Summary written by AlphAI AI Desk from 20 of 40 sources. Not investment advice. Figures are as stated by the linked sources.