Nokia reported a second-quarter comparable operating profit of €434 million, surpassing analyst expectations, as the Finnish telecoms equipment maker benefited from surging demand tied to artificial intelligence infrastructure buildout. The company lifted its full-year comparable operating profit guidance to between €2.1 billion and €2.6 billion.
Quarterly revenue reached €4.82 billion, and sales to AI and cloud customers doubled to €446 million, driven by orders for fibre-optic equipment used in data centres built by major technology companies. The company secured €2.8 billion in new orders from AI and cloud service clients during the quarter. Optical networks grew 20 percent and IP networks 16 percent.
Despite the comparable profit beat, Nokia posted a reported operating loss of €50 million for the quarter. Free cash flow was negative €103 million and net cash fell €602 million in the first half of 2026. Mobile infrastructure revenue stood at €2.7 billion and network infrastructure at €2.0 billion.