Nokia reported a stronger-than-expected increase in its first-quarter comparable operating profit on Thursday, as sustained demand from artificial intelligence and cloud customers continued to drive growth, with the company securing orders worth €1 billion ($1.2 billion).
Comparable operating profit rose 54% year-on-year to €281 million in the first quarter of 2026, exceeding analysts’ average forecast of €250 million in a poll by Infront.
The company has benefited from rising demand linked to AI data centres being built by hyperscalers—major cloud providers that rely heavily on fibre optic infrastructure.
Once known primarily for its mobile phone business and later for 5G equipment, Nokia has now become one of the leading global suppliers of optical transport systems following its acquisition of US-based Infinera.
Comparable net sales for the quarter stood at €4.5 billion, broadly in line with market expectations. The Espoo-based company also reported a 49% increase in net sales from AI and cloud customers.