ESPOO (dpa-AFX) - Finnish telecom and network technology major Nokia Oyj (NOK, NOKIA.HE) on Thursday reported significantly higher profit in its third quarter, while operating profit declined, amid increased sales.
In the overnight activity on the NYSE, the shares were trading 0.11 percent lower at $9.24.
Looking ahead for fiscal 2026, Nokia continues to expect comparable operating profit between €2.1 billion and €2.6 billion.
In the third quarter, profit was €156 million, up 95 percent from €80 million in the prior year period, according to the company's earnings announcement.
Profit from continuing operations reached €176 million compared with €90 million last year, representing a 96 percent increase. Earnings per share from continuing operations were €0.03, up from €0.01 a year ago.
Comparable profit from continuing operations climbed 49 percent to €498 million from €334 million last year. Comparable earnings per share from continuing operations rose to €0.09 from €0.06 last year.
Operating profit, meanwhile, dropped 22% from last year to €196 million, and operating margin fell 160 basis points to 3.8%.
Comparable operating profit grew 35% to €605 million, and margin improved 220 basis points to 11.7 percent.
Third-quarter net sales totaled €5.154 billion, up 10 percent from €4.700 billion last year. On a constant currency basis, net sales grew 9 percent year-over-year.
Nokia also announced progress on its Infinera integration. The company expects to complete the integration by the end of 2026, one year ahead of the original plan, while generating €200 million in net synergies.
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