For the second quarter of 2026, analysts expect Nokia to report consensus revenue of $5.59 billion and earnings per share of $0.07, with the stock trading at approximately $10.67 against an average price target of $12.57.
Investors are primarily focused on the performance of the company’s AI and cloud infrastructure segment following the recent commercial launch of its AI-RAN platform developed in partnership with NVIDIA.
This high-growth division saw revenue surge 49% year-over-year in the previous quarter, driven by intense demand for optical networking and AI-native data center connectivity. Markets are now watching for proof that these high-margin orders can successfully offset ongoing cyclical headwinds in the traditional 5G mobile equipment market.