Nokia (NYSE:NOK) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Nokia (NYSE:NOK) released its earnings results on Thursday. The technology company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02, FiscalAI reports. The company had revenue of $7.19 billion for the quarter, compared to the consensus estimate of $6.10 billion. Nokia had a net margin of 4.65% and a return on equity of 8.24%.

Here are the key takeaways from Nokia’s conference call:

• Q4 results were in line with guidance — net sales up 3% to €6.1bn, operating profit of €1.0bn, full‑year net sales €19.9bn, operating profit €2.0bn, free cash flow conversion 72% and net cash of €3.4bn.
• Strong momentum in Network Infrastructure — Optical grew ~17% in Q4, AI/cloud customers generated €2.4bn of orders in 2025, book‑to‑bill >1, and 800G ZR/ZR+ pluggables are shipping with multiple design wins.
• Management is increasing investment to capture AI/cloud demand, targeting €900m–€1.0bn CapEx in 2026 to expand optical manufacturing (including indium phosphide fab capacity) to support ramping production.
• Strategic and structural moves to sharpen focus — acquisition of Infinera, creation of a new Mobile Infrastructure segment and Nokia Defense, plus published KPIs (NI growth and margin targets) to drive longer‑term value creation.
• Near‑term profitability headwinds — Nokia Technologies sales fell 17% in Q4 with a €20m impairment, and the newly grouped Portfolio Businesses posted €97m operating loss in 2025 (management expects a lower but still negative outcome in 2026).

Nokia Stock Performance

NOK traded down $0.70 during midday trading on Thursday, reaching $6.12. The company had a trading volume of 28,098,375 shares, compared to its average volume of 34,506,707. The business has a 50-day moving average price of $6.40 and a two-hundred day moving average price of $5.55. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.23 and a current ratio of 1.48. Nokia has a 12-month low of $4.00 and a 12-month high of $8.19. The stock has a market cap of $35.14 billion, a PE ratio of 34.00 and a beta of 0.77.

Key Nokia News

Here are the key news stories impacting Nokia this week:

• Positive Sentiment: Q4 results beat expectations — Nokia reported $0.19 EPS (vs. $0.17 est.) and revenue of $7.19B (vs. ~$6.1B est.), driven by AI and data‑center customers, showing material topline strength. MarketBeat Earnings Summary
• Positive Sentiment: Company says AI and cloud customers drove a sharp rise in sales of network infrastructure equipment — a structural tailwind for higher‑margin enterprise/data‑center demand. WSJ: AI & Cloud Sales
• Positive Sentiment: Nokia restructured reporting into two primary operating segments to align with AI-driven demand and provided recast comparative segment results — improves transparency on AI/data‑center performance. GlobeNewswire: Recast Segment Results
• Positive Sentiment: Product/partner momentum: Nokia announced an edge‑AI partnership with Blaize, expanding its edge AI portfolio and potential customer reach. VIR: Nokia-Blaize Partnership
• Neutral Sentiment: CEO commentary framed global strategy — Justin Hotard said Europe and the U.S. are co‑dependent for tech supply chains, aligning with regulatory shifts but not immediately market‑moving. Reuters: CEO Remarks
• Neutral Sentiment: Analysts still show a constructive tilt — consensus “Moderate Buy” remains, reflecting confidence in structural AI opportunities despite near‑term caution. American Banking News: Analyst Consensus
• Negative Sentiment: Softer guidance prompted the selloff — despite the quarter beat, management’s forward comments were cautious, which spooked investors expecting stronger near‑term margin or revenue guidance. Seeking Alpha: Softer Guidance
• Negative Sentiment: Board change: Nokia’s chair is stepping down — leadership turnover increases near‑term uncertainty even as the company pursues its AI strategy. MSN: Chair to Step Down
• Negative Sentiment: Some execution/partnering concerns: coverage noted Nokia declined to use Nvidia in an APAC AI infrastructure deal — market interpreted as potential competitive/partner risk. SDxCentral: Foregoes Nvidia

Analysts Set New Price Targets

NOK has been the topic of a number of research analyst reports. Danske raised shares of Nokia from a “hold” rating to a “buy” rating in a research report on Friday, November 21st. Weiss Ratings restated a “hold (c)” rating on shares of Nokia in a report on Monday, December 22nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Nokia in a report on Wednesday, October 15th. Citigroup restated a “sell” rating on shares of Nokia in a report on Friday, January 23rd. Finally, Kepler Capital Markets upgraded shares of Nokia from a “hold” rating to a “buy” rating in a report on Wednesday, January 7th. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $6.77.

Institutional Trading of Nokia

Hedge funds have recently made changes to their positions in the company. Sivia Capital Partners LLC increased its position in shares of Nokia by 43.7% in the second quarter. Sivia Capital Partners LLC now owns 41,280 shares of the technology company’s stock worth $214,000 after purchasing an additional 12,554 shares during the last quarter. Scotia Capital Inc. raised its position in shares of Nokia by 23.0% during the 3rd quarter. Scotia Capital Inc. now owns 63,855 shares of the technology company’s stock valued at $307,000 after buying an additional 11,921 shares in the last quarter. Brooklyn Investment Group lifted its holdings in shares of Nokia by 58.8% during the 3rd quarter. Brooklyn Investment Group now owns 63,311 shares of the technology company’s stock worth $305,000 after acquiring an additional 23,439 shares during the last quarter. Evergreen Capital Management LLC grew its position in Nokia by 39.1% in the second quarter. Evergreen Capital Management LLC now owns 42,832 shares of the technology company’s stock worth $222,000 after acquiring an additional 12,039 shares in the last quarter. Finally, Sender Co & Partners Inc. bought a new position in Nokia in the second quarter valued at $224,000. 5.28% of the stock is currently owned by institutional investors.

Nokia Company Profile

Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel‑Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia’s core activities center on designing, building and supporting communications networks and related software.