Loading...
•
Dec 31, 2025
•/
Nokia Q4 2025 Earnings Report
Nokia reported modest revenue growth and strong profitability improvements in Q4 2025, with solid performance in Network Infrastructure and Mobile Networks.
Key Takeaways
Nokia delivered Q4 2025 results in line with expectations, achieving revenue growth of 2% year-over-year and significant margin improvements driven by favorable product mix and disciplined cost control. Network Infrastructure and Mobile Networks both contributed positively, while Nokia Technologies saw a decline.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Nokia targets EUR 2.0 to 2.5 billion in comparable operating profit for FY 2026, with focus on Network Infrastructure growth and operational efficiency in Mobile Infrastructure.
Positive Outlook
- Strong demand outlook in AI and Cloud-driven Network Infrastructure
- Expected 6-8% growth in Network Infrastructure segment
- Positive momentum in IP and Optical Networks order intake
- Continued margin expansion focus through cost savings
- Cash flow conversion target of 55% to 75%
Challenges Ahead
- Q1 2026 expected to decline more than normal seasonality
- Slight increase in effective tax rate expected
- Higher capital expenditures planned, affecting cash flow
- Ongoing restructuring charges of EUR 250 million expected
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...