Nokia reported Q1 2026 net sales of EUR 4.5 billion. Revenues rose 4% year-over-year. Sales in the AI and cloud segment surged 49%. The company secured EUR 1 billion in new orders from these clients. Gross margin expanded to 45.5%.
Nokia raised its 2026 Network Infrastructure growth forecast to 12-14%. The previous estimate for the division was 6-8%. The outlook for Optical and IP Networks increased to 18-20%. Full-year operating profit is tracking above the guidance midpoint. Analysts raised stock price targets following the report.