Nokia’s Mixed Q4 2025 Results: AI-Driven Growth Offsets by Weak 2026 Guidance
Nokia's fourth-quarter performance revealed a tale of two narratives. The Finnish telecom giant reported €6.1 billion in net sales, marking a 3% year-over-year increase at constant currency. Its Network Infrastructure division surged 19%, fueled by booming demand from AI and cloud data center clients—a sector increasingly intertwined with blockchain infrastructure development.
While comparable operating profit reached €1.06 billion with a healthy 17.3% margin, investors focused on the disappointing 2026 outlook. The company's €2.0-€2.5 billion operating profit forecast fell short of analysts' €2.37 billion consensus, triggering a 5.8% stock plunge. This guidance miss comes despite Optical Networks' 17% growth, suggesting market concerns about sustaining momentum in critical tech sectors.
