NYSE$NOK
Nokia Oyj-ADR · Q2 2026 earnings
Q2 2026 earnings · · Investor relations
Briefing
Nokia reported solid Q2 2026 results with 8% net sales growth driven by AI & Cloud demand.
Nokia Oyj reported Q2 2026 net sales of EUR 4.815 billion, up 8% year-over-year. Comparable operating profit rose 18% to EUR 434 million with a 9.0% margin. The company reclassified certain businesses as discontinued operations and maintained its full-year outlook with a technical adjustment to EUR 2.1-2.6 billion comparable operating profit.
- Q2 net sales grew 9% on constant currency basis to EUR 4.815 billion, led by 12% growth in Network Infrastructure.
- Comparable gross margin expanded 70 bps to 46.0%; comparable operating margin up 70 bps to 9.0%.
- AI & Cloud net sales more than doubled; AI & Cloud order intake reached EUR 2.8 billion.
- Full-year comparable operating profit outlook revised technically to EUR 2.1-2.6 billion due to discontinued operations classification.
Headline financials
Revenue & EPS history
Nokia · Revenue · Quarterly
€5.49B
Forward guidance
Full year 2026 comparable operating profit outlook EUR 2.1-2.6 billion (technical revision); operationally unchanged. Network Infrastructure net sales growth 12-14%.
Tailwinds
- Strong AI & Cloud demand with orders of EUR 2.8 billion.
- Momentum entering H2 with expectation to deliver above midpoint of guidance.
- New AI-RAN platform launch and manufacturing capacity expansions.
Headwinds
- Accelerated restructuring charges of EUR 800 million in 2026.
- Supply constraints in optical components remain industry challenge.
- Discontinued operations classification impacts reported figures.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports
-0.5%
Avg return
Earnings day
-0.3%
Avg return
5 days after
+1.7%
Avg return
30 days after
48%
29 / 61 earnings
Positive
+13.7%
Q2 2020
Best reaction
-26.0%
Q3 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | — | — | — | |
| Q4 2026 | -7.5% | +14.6% | +56.7% | |
| Q4 2024 | +5.9% | +6.3% | +8.1% | |
| Q3 2024 | -2.7% | +5.6% | +0.0% | |
| Q2 2024 | -6.4% | -4.9% | +3.6% | |
| Q1 2024 | +3.6% | +10.5% | +17.4% | |
| Q4 2023 | +12.0% | +7.9% | +3.8% | |
| Q3 2023 | -6.2% | -5.0% | +5.0% | |
| Q2 2023 | +0.0% | +0.8% | -3.3% | |
| Q1 2023 | -8.7% | -11.3% | -12.3% | |
| Q4 2022 | +2.2% | +2.8% | -1.1% | |
| Q3 2022 | -6.8% | -3.3% | +5.0% | |
| Q2 2022 | +8.5% | +7.2% | +7.2% | |
| Q1 2022 | +0.0% | +3.8% | +2.0% | |
| Q4 2021 | -4.4% | -4.7% | -19.6% | |
| Q3 2021 | -1.4% | -3.5% | -3.6% | |
| Q2 2021 | +4.6% | +8.3% | +3.8% | |
| Q1 2021 | +11.4% | +11.9% | +22.9% | |
| Q4 2020 | -10.2% | -10.9% | -17.4% | |
| Q3 2020 | -16.8% | -16.3% | +2.0% | |
| Q2 2020 | +13.7% | +12.4% | +11.7% | |
| Q1 2020 | +2.6% | -1.4% | +12.5% | |
| Q4 2019 | +8.4% | +9.4% | -11.4% | |
| Q3 2019 | -26.0% | -30.5% | -32.9% | |
| Q2 2019 | +10.4% | +5.6% | -3.3% | |
| Q1 2019 | -7.4% | -8.8% | -11.6% | |
| Q4 2018 | -6.7% | -8.1% | -7.0% | |
| Q3 2018 | +6.1% | +7.0% | +4.4% | |
| Q2 2018 | -9.7% | -9.7% | -6.7% | |
| Q1 2018 | +0.7% | +0.2% | +3.7% | |
| Q4 2017 | +12.3% | +14.6% | +20.0% | |
| Q3 2017 | -18.8% | -19.2% | -16.0% | |
| Q2 2017 | +3.7% | +6.0% | +0.6% | |
| Q1 2017 | +6.7% | +8.8% | +18.8% | |
| Q4 2016 | +5.7% | -0.9% | +13.1% | |
| Q3 2016 | -11.6% | -14.0% | -16.1% | |
| Q2 2016 | -3.9% | -0.7% | +1.2% | |
| Q1 2016 | -7.2% | — | — | |
| Q4 2015 | +0.7% | — | — | |
| Q3 2015 | +11.7% | — | — | |
| Q2 2015 | +7.0% | — | — | |
| Q1 2015 | -13.2% | — | — | |
| Q4 2014 | -0.4% | — | — | |
| Q3 2014 | -4.1% | — | — | |
| Q2 2014 | +0.0% | — | — | |
| Q4 2013 | +0.3% | — | — | |
| Q1 2014 | +2.9% | — | — | |
| Q3 2013 | -1.9% | — | — | |
| Q2 2013 | -1.9% | — | — | |
| Q4 2012 | +1.7% | — | — | |
| Q1 2013 | -0.6% | — | — | |
| Q3 2012 | +7.0% | — | — | |
| Q2 2012 | +3.4% | — | — | |
| Q1 2012 | -0.4% | — | — | |
| Q4 2011 | +0.0% | — | — | |
| Q3 2011 | -5.7% | — | — | |
| Q2 2011 | +1.4% | — | — | |
| Q1 2011 | -0.8% | — | — | |
| Q4 2010 | -1.2% | — | — | |
| Q3 2010 | +5.0% | — | — | |
| Q2 2010 | +4.2% | — | — | |
| Q1 2010 | +1.4% | — | — |
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