Nokia Q3 profit beats forecasts as AI and cloud orders surge

Nokia reported third-quarter 2026 comparable operating profit of €605 million on October 22, up from €448 million a year earlier, as demand from artificial intelligence and cloud customers strengthened. The Finnish telecom equipment maker retained its full-year financial outlook, Economic Times Markets reported.

Profit exceeded the €453 million average analyst forecast in a company-provided poll. Comparable net sales rose 10% to €5.15 billion, also ahead of the €5.05 billion consensus estimate.

AI and cloud orders underpin growth

Order intake from AI and cloud customers reached €1.5 billion in the quarter, an increase of 118% from a year earlier. These orders represent incoming business rather than sales already recognised during the quarter.

Chief Executive Officer Justin Hotard projected combined growth of 25% to 30% for Nokia’s optical and IP networks businesses in 2027, according to a company statement cited in the report. That projection concerns those two businesses, not company-wide growth.

Hotard said growth was gathering pace and operating leverage was becoming more apparent. He also expressed confidence in Nokia’s capacity to generate long-term shareholder value.

Full-year outlook holds steady

Despite the stronger quarterly results, Nokia left its 2026 financial outlook unchanged. The report did not specify the numerical guidance range.

Nokia shares had risen 48% so far in 2026, according to Reuters reporting cited in the account. That year-to-date gain is separate from any share-price reaction to the latest earnings announcement.