Nokia Q3 Revenue Rises 9% as AI Data Center Demand Drives Profit Beat

Nokia reported third-quarter 2026 results on Thursday that topped analyst expectations, driven by surging demand for networking equipment from AI data centers and cloud clients. Revenue grew 9% year over year, while net profit rose sharply and came in ahead of consensus estimates. FactSet had pegged analyst forecasts at net sales of roughly 5.06 billion euros and adjusted operating profit of 462 million euros, against a year-earlier comparable operating profit of 448 million euros.

Despite the net profit beat, reported operating profit declined in the quarter, a gap that reflects the impact of charges including amortization of acquired intangibles and restructuring costs tied to Nokia's ongoing integration of Infinera. The company's network infrastructure and optical networking segments benefited most directly from hyperscaler spending on AI-related buildouts, a demand pattern that analysts have flagged as a potential concentration risk given Nokia's growing reliance on a handful of major cloud clients.

Nokia confirmed its full-year 2026 financial outlook unchanged, maintaining guidance for comparable operating profit in the range of 2.0 to 2.5 billion euros. The reaffirmation signals management confidence that AI-driven demand will continue to support results through the remainder of the year.