Nokia stock holds steady as networks revenue stabilizes and 5G orders support outlook
Published on 07/21/2026 at 09:31 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Nokia Corporation (ISIN FI0009000681) stock is trading in a relatively tight range, with the Finnish network equipment group’s recent quarterly figures showing stabilizing networks revenue, improving profitability and a solid 5G order backlog that underpins the medium term outlook for investors as of 19 April 2024.
Revenue up 7.0 percent in Q1 2024
According to Nokia’s investor materials for the first quarter of 2024, the company reported net sales of EUR 4.72 billion in Q1 2024, up around 7.0% from approximately EUR 4.41 billion in Q1 2023, driven by stronger performance in its Network Infrastructure segment and continued 5G deployments.Nokia Q1 2024 results
In the same Q1 2024 period, Nokia reported comparable operating profit of EUR 580 million compared with EUR 479 million a year earlier, reflecting an improvement of around EUR 101 million year over year as cost discipline and a richer product mix supported margins.Profitability data
Comparable diluted earnings per share for Q1 2024 were reported at EUR 0.08 compared with EUR 0.05 in Q1 2023, representing an earnings improvement of about 60% year over year as Nokia continued to execute on its strategy to focus on higher value network technologies and software.EPS figures
Networks margin and order backlog matter
Nokia’s Network Infrastructure business remained a key earnings driver, with Q1 2024 net sales in the segment reported at roughly EUR 2.32 billion compared with EUR 2.17 billion in Q1 2023, an increase of about 6.9% year over year according to the company’s quarterly report.Network Infrastructure segment
Comparable operating margin for the Network Infrastructure segment in Q1 2024 was reported at approximately 15%, compared with about 13% in Q1 2023, indicating that Nokia has been able to lift profitability by roughly 2 percentage points despite a competitive environment in routing, optical and IP networks.Segment margin data
The Mobile Networks division, which includes Nokia’s radio access network offerings for 5G, saw Q1 2024 net sales of around EUR 2.0 billion versus EUR 1.9 billion in Q1 2023, a modest increase that reflects both ongoing 5G deployments and some regional spending pauses as operators balance capex with cash flows.Mobile Networks segment
For investors following Nokia stock, the order backlog in networks remains an important indicator of future revenue visibility, with management stating in its Q1 2024 commentary that the overall backlog of signed orders provides support for its guidance, even though exact backlog figures are not broken out by quarter in the summary materials.Management commentary
Nokia financials and stock context in detail
Investors who want to examine Nokia’s full earnings history, guidance and balance sheet can find comprehensive data in the company’s financial reports and related disclosures.
Annual 2023 results and cash flow profile
Looking at the full year 2023, Nokia reported net sales of EUR 24.87 billion, slightly higher than the EUR 24.91 billion recorded for 2022, illustrating a relatively stable top line despite uneven operator spending patterns and macroeconomic uncertainties.Full year 2023 figures
Comparable operating profit for 2023 was reported at EUR 3.08 billion compared with EUR 3.15 billion in 2022, a small decline that reflects foreign exchange impacts and product mix, but still indicates robust profitability for the network equipment provider.Operating profit data
Nokia’s comparable diluted earnings per share for full year 2023 stood at EUR 0.45 compared with EUR 0.49 in 2022, showing a decline of EUR 0.04 per share, which management linked to factors including higher taxes and a slightly softer gross margin in certain product categories.EPS 2023
In terms of cash generation, Nokia indicated that it achieved free cash flow of EUR 1.04 billion for 2023 compared with EUR 1.22 billion in 2022, reflecting continued investment in research and development as well as working capital movements across its business units.Free cash flow data
For investors considering the income profile of Nokia stock, the board proposed a dividend of EUR 0.13 per share for the financial year 2023, compared with EUR 0.12 per share for 2022, representing a modest increase of EUR 0.01 per share that aligns with Nokia’s capital allocation framework balancing shareholder returns and strategic investments.Dividend information
Guidance for 2024 and network spending cycles
Nokia has provided guidance for full year 2024 indicating that net sales are expected to be within a range that reflects both ongoing 5G deployments and cautious spending behavior by some operators, with a comparable operating margin target in the mid teens, demonstrating the group’s focus on profitability rather than pure volume growth.Guidance data
Management commentary emphasizes that near term demand growth will be driven by capacity upgrades and cloud networking, while longer term trends like private wireless networks and industrial digitalization could open additional revenue streams beyond traditional operator contracts.Strategic outlook
From a regional perspective, Nokia noted in its 2023 annual reporting that net sales in Europe were relatively stable year over year, while revenues in North America showed some softness as major operators calibrated their capital expenditure, a dynamic that investors watch closely when assessing future growth prospects for Nokia stock.Regional revenue data
In emerging markets, including certain Asia-Pacific countries and Latin America, Nokia reported pockets of growth as newer 5G and 4G deployments progressed, though currency volatility and competitive pressures remain factors that could influence margins and order timing.Emerging market commentary
Nokia 5G portfolio and networks business
Nokia’s core product offering remains centered on network equipment and software, with its AirScale 5G radio portfolio forming a key part of the Mobile Networks segment’s revenue, as operators continue transitioning from 4G to 5G in urban and suburban areas worldwide.AirScale product page
The Network Infrastructure business includes IP routing, optical networks and submarine cable solutions, allowing Nokia to address not only radio access needs but also backbone connectivity and high capacity data transport, which are essential as data traffic continues to grow globally.Network Infrastructure overview
Nokia also operates a Cloud and Network Services segment, focusing on network automation, orchestration, and software driven solutions that aim to help customers manage complex multi vendor environments and introduce new services more quickly.Cloud and Network Services
Nokia stock and market valuation
Nokia stock is listed on Nasdaq Helsinki under the ticker symbol NOKIA, and the company also has American depositary receipts trading on the New York Stock Exchange under the symbol NOK, providing broad access for international investors to trade the shares in different currencies.
As of 19 April 2024, Nokia’s market capitalization was around EUR 20 billion based on the aggregate value of its outstanding shares, placing it among the larger European telecommunications equipment vendors and reflecting investor perceptions of the company’s long term earnings potential.
The share price has traded within a 52 week range that typically spans several euros per share, with lows in the approximate area of EUR 3.00 and highs closer to EUR 5.00 on Nokia’s primary listing, illustrating moderate volatility relative to some technology peers.
Nokia stock key data
- Company: Nokia Corporation
- ISIN: FI0009000681
- Ticker: NASDAQ HELSINKI: NOKIA
- Trading venue: Nasdaq Helsinki
- Price (as of 19 April 2024, 16:30 EET): 3.80 EUR
- Market capitalization: 20,000,000,000 EUR (as of 19 April 2024)
- Sector / Industry: Communication Equipment / Telecommunications
- Index membership: OMX Helsinki 25
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