Nokia posts strong Q2 sales and AI demand, cuts Q4 EPS outlook

Nokia Corporation reported a 9% year‑on‑year increase in Q2 net sales, driven by higher AI and cloud demand. Network Infrastructure sales rose 12% on a constant‑currency basis, with optical networks up 20% and IP networks up 16%. AI‑focused customers grew 105% in net sales. The quarter delivered a comparable diluted EPS of €0.07, while reported EPS was zero. Operating margin slipped to a reported –1.0% due to restructuring, but the comparable margin stayed at 9.0%.

In parallel, analyst firm Northland Securities lowered its Q4 2026 EPS estimate for Nokia to $0.18 per share from $0.19. The consensus full‑year EPS is $0.41, with a FY2027 projection of $0.49. Nokia’s actual Q4 results showed EPS of $0.08, beating the consensus $0.07, and revenue of $5.50 billion, slightly below expectations of $5.57 billion but up 8.4% YoY. The company also announced the launch of the industry’s first commercial AI‑RAN platform, aimed at delivering over 100% spectral efficiency gains by 2028.