Nokia Corporation Q1 2026 Earnings Recap

NOK Q1 2026 April 23, 2026

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Nokia delivered a resilient Q1 with 4% revenue growth driven by strong demand in optical and infrastructure networks, and improved profitability amid strategic product launches and hypergrowth in AI-related markets.

Earnings Per Share Beat

$0.06 vs $0.06 est.

+0.0% surprise

Revenue Miss

5266437000 vs 5329215000 est.

-1.2% surprise

Market Reaction

1-Day +6.46%

5-Day +15.01%

30-Day +41.98%

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Key Takeaways

Revenue increased to EUR 4.5 billion with a 320 bps gross margin expansion, reflecting operational efficiencies and product mix.
Optical Networks surged 20%, benefiting from AI and cloud customer demand, contributing to a revision of 2026 growth outlook to 12–14%.
The new Mobile Infrastructure segment showed stability, with software growth of 5% and upcoming AI RAN innovations in pipeline.
Free cash flow remained robust at EUR 629 million, supporting strong balance sheet positioning with EUR 3.8 billion net cash.
Market expectations for AI CapEx now surpass EUR 700 billion, bolstering Nokia’s view of a sustained, structural market shift.

This summary was generated by AI from the official earnings call transcript and is provided for informational purposes only. It does not constitute financial advice. For the complete transcript and financial data, visit NOK on AllInvestView.

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