Nokia posts strong Q3 revenue growth, hits €5.15B

• Nokia's Q3 2026 net sales rose 10% to €5.154 billion, while reported operating profit fell 22% to €196 million.
• Comparable operating profit increased 35% to €605 million, exceeding analysts' average estimate of €453 million.
• Nokia maintained its 2026 comparable operating profit forecast of €2.1–2.6 billion but reduced its free cash flow conversion outlook to 35%–55%.

Nokia (NYSE:NOK) reported third-quarter 2026 net sales of €5.154 billion, up 10%, while reported operating profit declined 22% to €196 million.

Reported gross margin fell 220 basis points to 42.2%, while operating margin declined to 3.8%, despite comparable operating profit rising 35% to €605 million.

Profit from continuing operations rose 96% to €176 million, with diluted earnings per share of €0.03 and expected restructuring charges reaching €1.1 billion.

Nokia maintained its 2026 comparable operating profit outlook of €2.1–2.6 billion while lowering free cash flow conversion expectations to 35%–55%.

Network Infrastructure sales increased 15% at constant currencies, while Mobile Infrastructure grew 5%, partly reflecting revenue brought forward from the fourth quarter.

Nokia also reported 123% growth in AI and cloud customer sales and €1.5 billion in new orders, supporting its network infrastructure strategy.