New York, Jan 30, 2026, 11:03 EST — Regular session
Nokia Oyj’s shares in the U.S. rose about 3.4% to $6.51 on Friday, recovering after the telecom equipment firm’s quarterly results reignited debate over its profit prospects for 2026.
Nokia’s push here is key, aiming to prove its AI and data-centre networking work can counterbalance a shaky 5G spending landscape amid a hefty restructuring and big acquisitions. Investors are cautious about the slow start, especially after Nokia flagged a tougher-than-usual seasonal slump in the first quarter.
Nokia held firm to its 2026 comparable operating profit forecast of 2.0 billion to 2.5 billion euros on Thursday, a range some analysts deemed conservative despite the company meeting fourth-quarter estimates. Shares in the Helsinki-listed company fell roughly 6% early Thursday, placing it among the worst performers on the Stoxx 600. The drop came after the announcement that longtime chair Sari Baldauf plans to step down, with vice chair Timo Ihamuotila nominated as her successor. 1
CEO Justin Hotard called the fourth quarter “in line with our expectations” in the latest financial statement. Nokia kept its profit forecast for 2026 steady, targeting 2.0 billion to 2.5 billion euros on a comparable basis, excluding restructuring charges. The board greenlit a 0.03 euro dividend, with the record date set for Feb. 3 and payment due Feb. 12. The company also cautioned that first-quarter net sales could fall more sharply than the usual seasonal dip. 2
Optical Networks caught attention, with Nokia pointing to strong order flows driven by AI and cloud customers. Its book-to-bill ratio stayed above one, showing orders continue to exceed shipments.
Nokia is prepping for its annual shareholder meeting on April 9 in Helsinki, unveiling a new governance lineup. The company has nominated Olli-Pekka Ihamuotila for chair and put forward Meredith Whittaker, president of the Signal Technology Foundation, for a spot on the board. 3
Ihamuotila acquired 100,000 Nokia shares on Friday, shelling out a volume-weighted average price of about 5.374 euros, per a managers’ transactions notice. 4
Nokia is revamping its operational reporting. The company has restated previous segment numbers ahead of a new structure set to launch with its first-quarter results. Going forward, operations will be divided into Network Infrastructure and Mobile Infrastructure, while several non-core units are being shifted into a Portfolio Businesses segment as Nokia weighs strategic options for them. 5
Hotard has emphasized politics and supply-chain reliability as major selling points. In an interview with Reuters this week, he described Europe and the U.S. as “co-dependent” for tech scale. Nokia and Ericsson are carving out roles as Western alternatives amid government crackdowns on Chinese vendors and ongoing discussions about tightening restrictions. 6
Risks remain. Nokia warns that tariffs and currency swings could squeeze margins, and carrier spending might slow as operators clamp down on budgets. The surge in demand for optical and data-centre networks brings its own set of execution hurdles, from delivering products to integrating them smoothly.
Traders have Nokia’s February 3 dividend record date on their radar, with the April 9 AGM vote on board changes coming up next. The first-quarter results, set for April 23, will be a key checkpoint for the 2026 outlook.
