Nokia Q3 2025: Strong Sales Growth, On Track for Full Year

Ticker: NOKBF · Form: 6-K · Filed: Oct 23, 2025 · CIK: 924613

Nokia Corp 6-K Filing Summary
FieldDetail
CompanyNokia Corp (NOKBF)
Form Type6-K
Filed DateOct 23, 2025
Risk Levellow
Pages15
Reading Time18 min
Sentimentbullish

Sentiment: bullish

Topics: earnings, financial-results, telecom

TL;DR

Nokia Q3 sales up 9% YoY, hitting targets. Full year outlook solid.

AI Summary

Nokia Corporation reported its Q3 2025 interim results on October 23, 2025, showing strong net sales growth of 9% year-over-year on a constant currency and portfolio basis (12% reported). All business groups contributed to this growth, with particular strength noted in specific areas. The company stated it is well on track to achieve its full-year outlook.

Why It Matters

This report indicates Nokia's positive financial performance and its ability to meet its financial targets, which could influence investor confidence and its stock price.

Risk Assessment

Risk Level: low — The filing is a routine interim report and does not contain any immediately apparent negative news or significant risk factors.

Key Numbers

  • 9% — Q3 comparable net sales growth (Year-over-year growth on a constant currency and portfolio basis)
  • 12% — Q3 reported net sales growth (Reported net sales growth)

Key Players & Entities

  • Nokia Corporation (company) — Filer of the report
  • October 23, 2025 (date) — Date of the report and Q3 results announcement
  • Q3 2025 (date) — Reporting period for the interim report

FAQ

What specific business groups contributed to the strong net sales growth in Q3 2025?

The filing states that all business groups contributed to the growth, with particular strength noted, but does not specify which ones in the provided excerpt.

What is Nokia Corporation's full-year outlook that they are on track to achieve?

The provided excerpt mentions that Nokia is on track to achieve its full-year outlook, but does not detail what that outlook specifically entails.

What is the constant currency and portfolio basis for the net sales growth calculation?

The filing indicates that the 9% growth is calculated on a constant currency and portfolio basis, but does not provide further details on the methodology in this excerpt.

When was the interim report for Q3 2025 released?

The interim report for Q3 2025 was released on October 23, 2025, at 08:00 EEST.

What is Nokia Corporation's principal executive office address?

Nokia Corporation's principal executive office is located at Karakaari 7, FI-02610 Espoo, Finland.

Filing Stats: 4,624 words · 18 min read · ~15 pages · Grade level 10.7 · Accepted 2025-10-23 07:28:07

Filing Documents

RISK FACTORS

RISK FACTORS Nokia and its businesses are exposed to a number of risks and uncertainties which include but are not limited to: · Competitive intensity, which is expected to continue at a high level as some competitors seek to take share; · Changes in customer network investments related to their ability to monetize the network; · Our ability to ensure competitiveness of our product roadmaps and costs through additional R&D investments; · Our ability to procure certain standard components and the costs thereof, such as semiconductors; · Disturbance in the global supply chain; · Impact of inflation, increased global macro-uncertainty, major currency fluctuations, changes in tariffs and higher interest rates; · Potential economic impact and disruption of global pandemics; · War or other geopolitical conflicts, disruptions and potential costs thereof; · Other macroeconomic, industry and competitive developments; · Timing and value of new, renewed and existing patent licensing agreements with licensees; · Results in brand and technology licensing; costs to protect and enforce our intellectual property rights; on-going litigation with respect to licensing and regulatory landscape for patent licensing; · The outcomes of on-going and potential disputes and litigation; · Our ability to execute, complete, successfully integrate and realize the expected benefits from transactions; · Timing of completions and acceptances of certain projects; · Our product and regional mix; · Uncertainty in forecasting income tax expenses and cash outflows, over the long-term, as they are also and changes in tax legislation, including potential tax reforms in various countries and OECD initiatives; · Our ability to utilize our Finnish deferred tax assets a

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS Certain statements herein that are not historical facts are forward-looking regarding: A) expectations, plans, benefits or outlook related to our strategies, projects, programs, product launches, growth management, licenses, sustainability and other ESG targets, operational key performance indicators and decisions on market exits; B) expectations, plans or benefits related to future performance of our businesses (including the expected impact, timing and duration of potential global pandemics, geopolitical conflicts and the general or regional macroeconomic conditions on our businesses, our supply chain, the timing of market changes or turning points in demand and our customers’ businesses) and any future dividends and other distributions of profit; C) expectations and targets regarding financial performance and results of operations, including market share, prices, net sales, income, margins, cash flows, cost savings, the timing of receivables, operating expenses, provisions, impairments, tariffs, taxes, currency exchange rates, hedging, investment funds, inflation, product cost reductions, competitiveness, value creation, revenue generation in any specific region, and licensing income and payments; D) ability to execute, expectations, plans or benefits related to transactions, investments and changes in organizational structure and operating model; E) impact on revenue with respect to litigation/renewal discussions; and F) any statements preceded by or including "anticipate", “continue”, “believe”, “envisage”, “expect”, “aim”, “will”, “target”, “may”, “would”, “could“, "see", “plan”, “ensure” or similar expressions. These forward-loo

forward-looking statements subject to a number of risks and uncertainties as described or

forward-looking statements subject to a number of risks and uncertainties as described or referred to in the Risk Factors section later in this report. Along with Nokia's official outlook targets provided above, Nokia provides the below additional assumptions that support the group level financial outlook. Full year 2025 Comment Net sales assumptions Normal seasonality in net sales excluding Nokia Technologies, would imply an increase of 22% sequentially in Q4. Considering recent strong order trends, Nokia currently assumes Q4 will be slightly above normal seasonality in terms of sequential growth. For the full year, Nokia continues to assume strong growth in Network Infrastructure, growth in Cloud and Network Services and largely stable net sales in Mobile Networks on a constant currency and portfolio basis. In Nokia Technologies we expect approximately EUR 1.1 billion in operating profit. Group Common and Other operating expenses Approximately EUR 350 million (update) Comparable financial income and expenses Positive EUR 0 to 100 million (update) Updated to now include impact of venture fund investments Comparable income tax rate ~25% Cash outflows related to income taxes EUR 500 million Capital expenditures EUR 650 million Recurring gross cost savings EUR 450 million (update) Related to ongoing cost savings program and not including Infinera-related synergies Restructuring and associated charges related to cost savings programs EUR 250 million Related to

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