Nokia's Strong Headline Numbers Mask Muted Underlying Results

Dow Jones15:15

0715 GMT - Nokia reported a solid enough second quarter, but not the game-changer that a first glance might suggest, Bernstein analyst Ulrich Rathe writes. The Finnish telecom-equipment provider reclassified some operations as discontinued, which made for strong headline numbers but masked a more pedestrian underlying result, the bank says. On a like-for-like basis, revenue beat by 2% and comparable operating profit by 9%. "While this still looks strong, the reason for the operating profit beat is materially from the lumpy licensing business within mobile infrastructure." Notably, the closely watched optical networks unit missed revenue and adjusted operating profit consensus by around 4%, the bank adds. Shares are up 3.8%. (dominic.chopping@wsj.com)

(END) Dow Jones Newswires

July 23, 2026 03:15 ET (07:15 GMT)

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2653771289?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-07-23 15:15","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2653771289","market":"nz","top_or_hot":-1,"title":"Nokia's Strong Headline Numbers Mask Muted Underlying Results","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0715 GMT - Nokia reported a solid enough second quarter, but not the game-changer that a first glance might suggest, Bernstein analyst Ulrich Rathe writes. The Finnish telecom-equipment provider reclassified some operations as discontinued, which made for strong headline numbers but masked a more pedestrian underlying result, the bank says. On a like-for-like basis, revenue beat by 2% and comparable operating profit by 9%. \"While this still looks strong, the reason for the operating profit beat is materially from the lumpy licensing business within mobile infrastructure.\" Notably, the closely watched optical networks unit missed revenue and adjusted operating profit consensus by around 4%, the bank adds. Shares are up 3.8%. (dominic.chopping@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  July 23, 2026 03:15 ET (07:15 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nokia's Strong Headline Numbers Mask Muted Underlying Results</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNokia's Strong Headline Numbers Mask Muted Underlying Results\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-07-23 15:15</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0715 GMT - Nokia reported a solid enough second quarter, but not the game-changer that a first glance might suggest, Bernstein analyst Ulrich Rathe writes. The Finnish telecom-equipment provider reclassified some operations as discontinued, which made for strong headline numbers but masked a more pedestrian underlying result, the bank says. On a like-for-like basis, revenue beat by 2% and comparable operating profit by 9%. \"While this still looks strong, the reason for the operating profit beat is materially from the lumpy licensing business within mobile infrastructure.\" Notably, the closely watched optical networks unit missed revenue and adjusted operating profit consensus by around 4%, the bank adds. Shares are up 3.8%. (dominic.chopping@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  July 23, 2026 03:15 ET (07:15 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4547","symbol_name":"WSB热门概念","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2653771289","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2653771289","pubTimestamp":1784790900,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0715 GMT - Nokia reported a solid enough second quarter, but not the game-changer that a first glance might suggest, Bernstein analyst Ulrich Rathe writes. The Finnish telecom-equipment provider reclassified some operations as discontinued, which made for strong headline numbers but masked a more pedestrian underlying result, the bank says. On a like-for-like basis, revenue beat by 2% and comparable operating profit by 9%. \"While this still looks strong, the reason for the operating profit beat is materially from the lumpy licensing business within mobile infrastructure.\" Notably, the closely watched optical networks unit missed revenue and adjusted operating profit consensus by around 4%, the bank adds. Shares are up 3.8%.  Dow Jones NewswiresJuly 23, 2026 03:15 ET Copyright  2026 Dow Jones & Company, Inc.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4547":"WSB热门概念","LU0006061336.USD":"Blackrock US Small and MidCap Opportunities A2 USD","NOK":"诺基亚","LNOK":"Defiance Daily Target 2X Long NOK ETF","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","BK4020":"通信设备","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC"},"translate_title":"诺基亚强劲的总体数据掩盖了低迷的基本业绩","themeId":null,"isJumpTheme":false,"ttsUrl":"https://static.tigerbbs.com/0514f870e3433d553ea51021a0210f76","symbols_score_info":{"LNOK":0.6,"NOK":1.5},"content_text":"0715 GMT - Nokia reported a solid enough second quarter, but not the game-changer that a first glance might suggest, Bernstein analyst Ulrich Rathe writes. The Finnish telecom-equipment provider reclassified some operations as discontinued, which made for strong headline numbers but masked a more pedestrian underlying result, the bank says. On a like-for-like basis, revenue beat by 2% and comparable operating profit by 9%. \"While this still looks strong, the reason for the operating profit beat is materially from the lumpy licensing business within mobile infrastructure.\" Notably, the closely watched optical networks unit missed revenue and adjusted operating profit consensus by around 4%, the bank adds. Shares are up 3.8%. (dominic.chopping@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  July 23, 2026 03:15 ET (07:15 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.46.0","shortVersion":"4.46.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2653771289","isCrawlerRequest":true}