Nokia (NOK) Stock Jumps 4% as AI Revenue Doubles and Outlook Rises
TLDR
- Nokia (NOK) rose 3.7% to $9.465 on Tuesday, with over 65.5 million units traded.
- Q2 earnings beat expectations: EPS of $0.08 vs. $0.07 consensus; revenue up 8.4% year-over-year to $5.50 billion.
- AI and Cloud revenue doubled, rising 103% to represent 9.3% of total sales.
- CEO Justin Hotard outlined plans to secure long-term supply deals to address memory shortages expected through 2027.
- 18 analysts give NOK a “Moderate Buy” consensus with an average price target of $12.57.
Nokia (NOK) climbed 3.7% to $9.465 on Tuesday, touching an intraday high of $9.52. The move came as investors responded to strong Q2 results and growing confidence in Nokia’s position within AI infrastructure.
The stock had closed at $9.13 the session prior. Volume came in at around 65.5 million, roughly 20% below the average daily volume of 81.4 million.
Nokia reported Q2 EPS of $0.08, beating the $0.07 consensus by a penny. Net sales rose 8% year-over-year to 4.82 billion euros, or roughly $5.60 billion. That came in just short of the $5.57 billion analyst estimate on the revenue side.
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