Nokia stock falls 1.41 percent as AI growth meets Q2 loss
Published on 09/30/2026 at 11:57 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Nokia stock (ISIN FI0009000681) was trading at EUR 9.09 at Lang & Schwarz on September 30, 2026 at 11:50 a.m. CEST, down 1.41 percent from the prior close of EUR 9.22. The move comes as investors weigh Nokia's AI infrastructure opportunity against a reported Q2 operating loss.
Microsoft expands Nokia's AI case
On September 17, 2026, Nokia announced an expanded collaboration with Microsoft that combines Nokia Data Suite with Microsoft Fabric. The planned platform targets agentic network automation, including RAN optimization, predictive maintenance and automated fault management for telecom operators.
The commercial logic is clear: Nokia is trying to turn AI demand into recurring network software and infrastructure revenue. The partnership does not disclose a contract value, so the Q2 operating data remain the harder measure of execution.
Q2 growth meets restructuring costs
Nokia's Q2 2026 net sales reached EUR 4.815 billion, up 8 percent from EUR 4.448 billion in Q2 2025, according to the MetaTrader report covering Nokia's July 23, 2026 filing. Comparable operating profit rose 18 percent from EUR 367 million to EUR 434 million, lifting the comparable operating margin from 8.30 percent to 9.00 percent.
The reported result was weaker: operating profit swung to a EUR 50 million loss from a EUR 147 million profit a year earlier after EUR 390 million of accelerated restructuring charges. Free cash flow was negative EUR 732 million in Q2 2026, compared with positive EUR 88 million in Q2 2025, making restructuring execution a central counterweight to the AI narrative.
Jefferies keeps a Buy rating
finanzen.net reported on September 24, 2026 that Jefferies kept Nokia at Buy with a EUR 13.80 price target. Analyst Janardan Menon cited Nokia's planned expansion of optical networking capacity and argued that expectations for the next two years remain too conservative.
Nokia's own investor-relations calendar identifies October 22, 2026 as the Q3 reporting date in the latest earnings schedule reported by AltIndex. That report will test whether Q2's comparable profit growth can continue while restructuring charges and cash flow remain material.
Nokia stock trades at EUR 9.09
Nokia stock was trading at EUR 9.09 at Lang & Schwarz on September 30, 2026 at 11:50 a.m. CEST, down 1.41 percent versus the Lang & Schwarz prior close of EUR 9.22 on September 29, 2026. Nokia's primary listing is Nasdaq Helsinki, where the investor-relations page showed EUR 9.13 on September 29, 2026.
Nokia stock facts
- Company: Nokia Oyj
- ISIN: FI0009000681
- WKN: 870737
- Ticker: NOKIA
- Primary exchange: Nasdaq Helsinki
- Price Lang & Schwarz as of September 30, 2026, 11:50 a.m. CEST: EUR 9.09
- Change versus prior close: minus 1.41 percent
- Prior close Lang & Schwarz September 29, 2026: EUR 9.22
- Sector / Industry: Technology / Communication Equipment
