605 Million € Profit – AI Boom Brings Nokia Strong Profit Jump
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The increasing demand for powerful data networks is making cash registers ring at Nokia. The Finnish group increased its comparable operating profit in the third quarter to 605 million euros. In the same period of the previous year, it had been 448 million euros. Nokia thus significantly exceeded expectations. Analysts had on average only expected an operating profit of 453 million euros. Revenue also went up. Sales grew by ten percent compared to the same quarter of the previous year to 5.15 billion euros. Adjusted for currency effects, the increase was nine percent. The network infrastructure division developed particularly strongly. nokia.com The business with customers from the artificial intelligence and cloud sectors is developing into the most important growth engine. Sales with this customer group shot up by 123 percent within one year. High demand is also evident in new orders. Incoming orders from the AI and cloud business increased by 118 percent to 1.5 billion euros. Powerful optical networks and IP networks are required for the construction and connection of large data centers. Nokia expects this business to continue to grow strongly. "We expect our combined business with optical and IP networks to grow by between 25 and 30 percent in 2027," explained CEO Justin Hotard. In the third quarter, total network infrastructure revenue grew by 15 percent adjusted for...
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