Nokia's AI Orders and Outlook Give Momentum to Growth Story

Dow Jones17:28

0928 GMT - Nokia reported third-quarter results that were clearly stronger than expected on a comparable basis, but the reported figures fell short due to larger one-off items, Inderes analysts Atte Riikola and Tommi Saarinen write. The Finnish company's revenue slightly exceeded consensus forecasts, but the real surprise came from profitability due to better-than-expected performances in both network and mobile infrastructure, they say. Orders from AI and cloud customers remained strong after a record second quarter, and revenue from these customers more than doubled on year. Full-year guidance remained unchanged, and the company's outlook for optical and IP networks next year is more positive than Inderes expected. "The revenue beat and the stronger-than-expected growth outlook for 2027 put upward pressure on our earnings forecasts." Shares fall 3.2%.

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