Nokia Revises 2024-2025 Financial Reporting Structure
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 29 2026
0mins
Should l Buy NOK?
Source: NASDAQ.COM
- Network Infrastructure Performance: Nokia's Network Infrastructure reported net sales of EUR 7.6 billion for 2025, a 20.6% increase from EUR 6.3 billion in 2024, although operating profit rose slightly to EUR 770 million, with the operating margin declining from 11.4% to 10.1%, indicating pressure on profitability.
- Mobile Infrastructure Decline: The Mobile Infrastructure segment saw net sales drop to EUR 11.4 billion in 2025 from EUR 12.2 billion in 2024, a decrease of 6.6%, with operating profit significantly falling to EUR 1.5 billion and the operating margin decreasing from 17.3% to 13.4%, reflecting intensified market competition and weak demand.
- Portfolio Businesses Growth: Portfolio Businesses generated net sales of EUR 845 million in 2025, up 17.7% from EUR 717 million in 2024, yet the operating loss widened to EUR 90 million, indicating ongoing challenges in this segment.
- Overall Financial Stability: Despite the restructuring of Nokia's financial reporting, the company stated that overall group results remain unchanged, aiming to provide comparability ahead of the new segment reporting framework set to begin in 2026, ensuring transparency for investors regarding future performance.
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Analyst Views on NOK
Wall Street analysts forecast NOK stock price to fall
7 Analyst Rating
5 Buy
2 Hold
0 Sell
Moderate Buy
Current: 13.920
Low
6.50
Averages
7.36
High
8.50
Current: 13.920
Low
6.50
Averages
7.36
High
8.50
About NOK
Nokia Oyj is a Finland-based company engaged in the network and Internet protocol (IP) infrastructure, software, and related services market. The Company's businesses include Nokia Networks and Nokia Technologies. The Company's segments include Ultra Broadband Networks, IP Networks and Applications, and Nokia Technologies. The Ultra Broadband Networks segment comprises Mobile Networks and Fixed Networks operating segments. The IP Networks and Applications segment comprises IP/Optical Networks and Applications & Analytics operating segments. The Applications & Analytics operating segment offers software solutions spanning customer experience management, network operations and management, communications and collaboration, policy and charging, as well as Cloud, Internet of things (IoT), security, and analytics platforms that enable digital services providers and enterprises to accelerate and optimize their customer experience. The Company has Comptel Oyj among its subsidiaries.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Market Opportunity: The collaboration aims to integrate Nvidia's GPU-powered AI platforms directly into Nokia's 5G RAN, positioning Nokia to capture a share of the multitrillion-dollar AI infrastructure market, significantly expanding its addressable market.
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- Introduction of Agentic AI: Nokia has introduced agentic AI capabilities across its fixed network product lines, leveraging insights from over 600 million broadband lines to enhance operational intelligence and productivity in home and broadband networks.
- Multi-Platform Integration: The new capabilities are embedded in Nokia's Altiplano, Corteca, and Broadband Easy platforms, utilizing natural language interaction and AI agents to help telecom providers modernize operations, reduce costs, and proactively resolve issues.
- Significant Business Improvements: These AI agents are expected to lift first-contact helpdesk resolution rates above 50%, qualify network incidents within five minutes, and reduce return visits to construction sites and connected homes by 50%.
- Strategic Implications: This technological advancement not only enhances Nokia's competitiveness in the telecom industry but also provides customers with more efficient services, further solidifying its market position.
See More
Market Analysis: Stock Performance and Investment Recommendations
- Competitive Pressure Analysis: Boston Scientific's stock has declined due to increased competition, yet analysts suggest holding the stock, indicating confidence in its future potential and reflecting market interest in the medical device sector.
- Cloud and Defense Opportunities: Nokia is seen as a dual beneficiary in cloud computing and defense, with analysts recommending its stock, highlighting its strong performance in technology and defense contracts, which may drive future growth.
- Retail Sector Challenges: Chewy faces challenges in the retail sector, with analysts unable to recommend buying due to the impact of war, reflecting a cautious market attitude towards high-growth retail companies.
- Infrastructure Investment Outlook: Caterpillar is viewed as a beneficiary of growing infrastructure and energy demands, with analysts recommending its stock, demonstrating confidence in its strong demand in construction and energy sectors.
See More
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- Market Performance: The NASDAQ 100 Pre-Market Indicator is down 40.56 points to 29,194.43, indicating cautious market sentiment that may influence short-term investor decisions.
- Active Stocks: Nokia Corporation (NOK) is up $0.27 to $13.09 with a trading volume of 6,532,196 shares, and the current mean recommendation is in the 'buy range', reflecting optimistic market expectations for its future performance.
- Earnings Forecast Revisions: Circle Internet Group, Inc. (CRCL) has risen $2.33 to $116.00, with three upward revisions in earnings forecasts over the past four weeks, projecting an EPS of $0.19 for the fiscal quarter ending June 2026, indicating strong market confidence in its growth potential.
- Target Price Analysis: Hims & Hers Health, Inc. (HIMS) is up $1.19 to $29.46, with its current price at 116.67% of the target price of $25.25, suggesting its market performance exceeds expectations and may attract more investor interest.
See More
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- Strategic Partnership: Nokia has entered a $1 billion investment agreement with Nvidia, with Nvidia purchasing new shares at $6.01 each, aiming to integrate AI technology directly into Nokia's 5G radio access networks, thereby enhancing network efficiency and managing surging data traffic.
- Market Transformation: Nokia has successfully pivoted from a mobile phone manufacturer to a leader in network infrastructure, focusing on building 5G and future 6G systems, and the partnership with Nvidia further expands its influence in the multitrillion-dollar AI infrastructure market.
- Financial Performance: Nokia's stock price has surged from multiyear lows around $4 to nearly $13, benefiting from strong first-quarter earnings and positive expectations regarding AI progress, showcasing its potential as a
See More
Nokia Partners with Nvidia to Propel AI in Telecom
- Strong Financial Performance: Nokia's latest financial results indicate significant revenue growth driven by AI demand, with stock prices recently hitting a 16-year high, reflecting market recognition and anticipation of its transformation.
- Deepening Strategic Partnership: The collaboration with Nvidia integrates AI platforms directly into Nokia's 5G radio access networks, aiming to enhance network efficiency and manage surging data traffic, thereby gaining an edge in the competitive telecom market.
- Market Potential Expansion: Through its partnership with Nvidia, Nokia not only secured a $1 billion investment but also expanded its addressable market within the multitrillion-dollar AI infrastructure sector, enhancing its competitiveness in future 6G systems.
- Enhanced Stock Momentum: Nokia's shares have surged from multi-year lows around $4 to nearly $13, with strong first-quarter earnings and optimistic market outlook driving stock appreciation, attracting significant retail investor interest.
See More
Nokia Partners with Nvidia to Redefine Future in AI
- Strategic Investment: Nvidia's $1 billion investment in Nokia through new stock at $6.01 per share not only injects fresh capital into Nokia but also enhances its competitive edge in the AI sector, facilitating its transition from traditional telecom to AI infrastructure.
- Market Opportunity: The collaboration aims to integrate Nvidia's GPU-powered AI platforms directly into Nokia's 5G RAN, positioning Nokia to capture a share of the multitrillion-dollar AI infrastructure market, significantly expanding its addressable market.
- Stock Performance: Nokia's shares have surged from around $4 to nearly $13 in recent months, reaching 16-year highs, driven by strong first-quarter earnings and optimistic guidance regarding data center demand, attracting significant retail investor interest.
- Future Outlook: While the AI-RAN rollout is still in its early stages and meaningful revenue growth may take time, the partnership with Nvidia provides Nokia with a long-term growth catalyst, necessitating careful assessment of execution risks in the competitive telecom market.
See More
