Nokia Oyj (NOK) Earnings
Nokia Oyj is expected to report next earnings on July 23, 2026 (in NaN days), with a consensus EPS estimate of $0.07. NOK has beaten EPS estimates in 5 of its last 12 reported quarters (average surprise +2.9% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $0.06 | $0.06 | +0.0% | $5.3B | -1.2% |
| Jan 29, 2026 | $0.17 | $0.21 | +23.5% | $6.3B | +34.3% |
| Oct 23, 2025 | $0.06 | $0.07 | +16.7% | $5.7B | -7.4% |
| Jul 24, 2025 | $0.07 | $0.05 | -28.6% | $5.4B | +13.3% |
| Apr 24, 2025 | $0.05 | $0.03 | -40.0% | $4.8B | -1.9% |
| Jan 30, 2025 | $0.14 | $0.19 | +35.7% | $6.2B | +40.9% |
| Oct 17, 2024 | $0.07 | $0.07 | +0.0% | $4.7B | -23.9% |
| Jul 18, 2024 | $0.05 | $0.06 | +20.0% | $4.8B | -8.3% |
| Apr 18, 2024 | $0.08 | $0.10 | +22.6% | $5.0B | -6.6% |
| Jan 25, 2024 | $0.12 | $0.11 | -13.3% | $6.3B | -7.7% |
| Oct 19, 2023 | $0.08 | $0.05 | -33.2% | $5.3B | -13.6% |
| Jul 20, 2023 | $0.09 | $0.08 | -8.8% | $6.2B | -3.7% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 23, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Justin noted Q1 net sales grew 4% to 4.5 billion euros, operating margin 6.2%, free cash flow 629 million euros. Strong momentum with AI and cloud customers, net sales up 49% and 1 billion new orders. Benefited from Infinera acquisition synergies in optical networks. Capital Markets Day outlined AI super cycle opportunity, demand accelerated. Introduced new products at OFC, focus on AI and cloud. Increased investment in optical networks, Indian phosphide facility on track. Mobile infrastructure started operating in January, core software grew 5%, radio networks signed deals. Technology standards delivered stability.
Guidance
Group level financial outlook unchanged. Network infrastructure growth expected 12-14% in 2026, up from 6-8%. Optical and IP networks combined growth 18-20%, up from 10-12%. Group comparable operating profit range 2-2.5 billion, tracking above midpoint.
Segment performance
Net sales grew 4% to four and a half billion euros. Network infrastructure sales grew 6% in quarter one. Optical networks had 20% net sales growth, mainly driven by AI and cloud customers. IP network sales grew 3% with growth in AI and cloud, offset by softness in other customer segments during the quarter. Fixed networks declined by 13%, reflecting portfolio strategy. Mobile infrastructure net sales grew by 3%, core software sales grew 5%, while radio networks sales were flat. Technology standards sales grew by 10% as a result of signing several deals. AI and cloud grew 49%, mission-critical enterprise and defense grew 19%, and technology licensing grew 10%, offsetting a 2% decline in telecom to deliver 4% growth for the group.
Risks & headwinds
Semiconductor ecosystem constraints, fixed networks CPE business headwinds, supply chain risks related to optical component production.
Analyst Q&A
Q: Frederick Lathel asked about raised assumption for optical networks guidance.
A: More supply confidence, demand strong, traction in IP networking.
Q: Jenardyn Menon asked about design wins and one billion new orders.
A: Demand strong on optical, IP networking visibility improving.
Q: Artem Beletsky asked about AI and cloud orders book to bill.
A: Focus on maximizing demand, semiconductor constraints, investment in supply.