ESPOO (dpa-AFX) - Finnish telecom major Nokia Oyj (NOK, NOKIA.HE), a major Finnish telecom company, on Thursday reported sharply lower profit in its second quarter, despite higher net sales. Further, the company said its fiscal 2026 outlook is unchanged operationally, but made a technical revision.
In the second quarter, Nokia's earnings plunged 95 percent to 5 million euros from 96 million euros last year. The company reported breakeven per share, compared to earnings of 0.02 euro per share a year earlier.
Comparable profit for the period was 414 million euros, compared to 252 million euros last year. Comparable earnings per share were 0.07 euro, compared to 0.04 euro a year ago.
Net sales grew 8 percent to 4.815 billion from 4.443 billion a year ago. Net sales grew 9 percent on a constant currency basis.
Further, the Board resolved to distribute a dividend of 0.04 euro per share. The dividend record date is July 28 and the dividend will be paid on August 6.
Looking ahead, Justin Hotard, President and CEO, said, 'We enter the second half with momentum and remain on track to deliver somewhat above the midpoint of our comparable operating profit guidance.'
For fiscal 2026, the company now expects comparable operating profit of 2.1 billion euros to 2.6 billion euros, a technical revision from 2.0 billion euros to 2.5 billion euros expected earlier.
According to the firm, the revision reflects a change in the presentation of two businesses, such as Fixed Wireless Access CPE and Enterprise Campus Edge, which are now treated as discontinued operations.
The company projects Network Infrastructure net sales growth of 12 percent to 14 percent for the year.
In 2026, Nokia now expects restructuring related charges of 800 million euros, and 350 million euros of the planned China integration charges by the end of 2026 as it targets to complete the integration within 2 years.
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