Nokia AI and cloud sales rise 123% as network business grows

Nokia said third-quarter net sales rose 9% year over year at constant currency, with demand from AI and cloud customers accelerating growth in its Network Infrastructure business.

Sales to AI and cloud customers reached €631 million, up 123% at constant currency from €279 million a year earlier. Network Infrastructure sales rose 15% at constant currency to €2.158 billion, helping lift group net sales to €5.154 billion, up 10% on a reported basis.

Order intake from AI and cloud customers increased 118% to €1.5 billion during the quarter, Nokia said. The company sells IP and optical networking equipment that connects computing systems within and between data centers. Within Network Infrastructure, IP Networks sales grew 43% at constant currency, led by AI and cloud customers. Optical Networks grew 18%, with those customers also contributing to the increase.

Comparable operating profit increased 35% to €605 million, while the comparable operating margin expanded 2.2 percentage points to 11.7%.

Reported operating profit fell 22% to €196 million. Nokia attributed the decline in its reported operating margin to accelerated restructuring and integration costs. The company kept its full-year 2026 comparable operating profit outlook unchanged at €2.1 billion to €2.6 billion.