Nokia stock slides nearly 4% in Helsinki — what to watch before earnings

Helsinki, Jan 28, 2026, 19:47 EET — Trading has ended for the day.

Shares of Nokia dropped 3.98% to 5.65 euros in Helsinki on Wednesday.
Investors are bracing for Nokia’s earnings report, due Thursday, which will detail results for both the fourth quarter and the full year.
This week, the company unveiled a new edge-AI partnership in the Asia-Pacific region.

Nokia Oyj shares fell nearly 4% in Helsinki on Wednesday, ending the day at 5.65 euros. The stock ranked among the top losers on the blue-chip OMX Helsinki 25 index. (Investing)

The decline arrives a day before Nokia’s fourth-quarter and full-year earnings are due, a crucial report that might alter 2026 forecasts amid ongoing caution from telecom operators on their spending.

That matters because investors are shifting their view of the stock—from a steady network provider to a wager on whether demand for faster networks, cloud connectivity, and “AI-ready” infrastructure will actually drive orders.

Helsinki shares fell broadly, weighed down by losses in telecom and tech stocks. This drag on the benchmark curbed enthusiasm for taking positions ahead of earnings. (Investing)

Off the tape, Nokia revealed advances in “inference” — running AI models live rather than just training them — via a memorandum of understanding with AI chip maker Blaize. The two aim to deploy hybrid AI solutions across the Asia-Pacific region. Blaize CEO Dinakar Munagala called the deal “an important step forward” in scaling AI systems. Nokia’s Sang Xulei added that the initiative is “accelerating” and zeroed in on bringing AI closer to where the data lives. (TNGlobal)

The deal is still non-binding, leaving its financial impact unclear for now. That ambiguity means Thursday’s report and guidance will likely steer the stock’s direction. (TNGlobal)

Nokia is set to publish its report at about 8 a.m. Finnish time this Thursday. An analyst webcast will follow at 11:30 a.m. EET. (Nokia Corporation | Nokia)

MarketScreener cited a FactSet consensus forecasting fourth-quarter sales around 6.1 billion euros. Adjusted operating profit is set to reach roughly 1.02 billion euros, while adjusted earnings per share are projected at 0.15 euros. (MarketScreener)

Traders are keenly eyeing any changes to Nokia’s outlook, along with fresh details on customer spending, margins, and cash flow. They’ll also be looking for hints that new projects around automation and AI-powered network gear are moving beyond the pilot phase.

Any doubts over 2026, renewed price pressure, or another setback in operator investment could quickly turn a mild pre-earnings dip into a steeper fall, especially after a rocky start to the year for European tech shares.

On Thursday, Nokia will release its fourth-quarter and full-year earnings, with a webcast Q&A to follow. This session could prove the first real indicator of whether the company can move beyond buzzwords and deliver tangible outcomes. (Nokia Corporation | Nokia)

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