Nokia says AI and cloud demand lifted second-quarter sales

On 23 July 2026, Finnish telecommunications equipment maker Nokia said demand for artificial intelligence and cloud services lifted its second-quarter sales, while restructuring charges reduced earnings. Nokia reported a profit of 5.0 million euros, or $5.7 million, for the April-to-June period, down from 96 million euros a year earlier. Sales rose by eight percent to 4.8 billion euros. The company attributed the sharp fall in earnings to restructuring charges, which it projected would total 800 million euros for the full year. Nokia said underlying or operating profit, which excludes one-off factors, increased by 18 percent to 434 million euros. Chief executive Justin Hotard said the quarter showed the company's strategy was producing results. He said Nokia had focused since late last year on opportunities linked to artificial intelligence, and that the company entered the second half of the year with momentum. Hotard said Nokia's AI and cloud order intake was 2.8 billion euros in the second quarter, while sales in those areas more than doubled from a year earlier. He said the strength was broad-based and that Nokia expected about half of those orders to become revenue over the next 12 months.