Nokia reports strong Q2 driven by growing AI and cloud demand
Nokia Oyj announced a 9% year-on-year increase in net sales for Q2 2026, driven by a 105% surge in demand from AI and cloud customers. The company maintained its full-year financial outlook.
Espoo – Nokia Oyj released its Q2 and Half Year 2026 financial results on July 23, 2026, reporting a 9% year-on-year net sales growth on a constant currency basis. The company attributed this increase significantly to a 105% rise in demand from customers focused on artificial intelligence (AI) and cloud services.
The Network Infrastructure segment saw net sales grow by 12% on a constant currency basis, with Optical Networks increasing by 20% and IP Networks by 16%. Mobile Infrastructure net sales remained stable year-on-year, with an improved profit contribution due to product mix.
The comparable gross margin expanded by 70 basis points to 46.0%, and the comparable operating margin increased by 70 basis points to 9.0%. However, the reported operating margin declined by 430 basis points to -1.0%, influenced by the accelerated pace of restructuring.
Nokia reaffirmed its full-year financial outlook, projecting a comparable operating profit between EUR 2.1 and 2.6 billion. The reclassification of two businesses as discontinued operations led to a EUR 0.1 billion technical revision in the forecast range. The company also introduced a new AI-RAN platform, expected to significantly enhance network efficiency in the coming years.