Nokia’s AI and Cloud Sales Surge as Profit Outlook Holds

Nokia reported higher third-quarter sales and comparable operating profit, driven in part by a sharp rise in business from artificial-intelligence and cloud customers, while restructuring and integration expenses weighed on its reported operating profit. The company kept its 2026 financial outlook unchanged. Net sales reached €5.154 billion for the quarter, up 10% from a year earlier. Comparable operating profit rose 35% to €605 million, and its comparable operating margin increased to 11.7% from 9.5%. The profit exceeded the average analyst estimate of €453 million in a company-provided poll. Sales to AI and cloud customers grew 123% year over year, and order intake from those customers increased 118% to €1.5 billion. Nokia’s Network Infrastructure business grew 15% on a comparable basis. Within it, IP Networks sales rose 43% and Optical Networks sales increased 18% year over year. The stronger comparable result contrasted with reported operating profit, which fell 22% to €196 million. Nokia attributed the decline to restructuring and integration expenses. Reported profit and comparable profit use different measures, with the latter excluding certain items. Nokia maintained...