Key Takeaways Nokia shares gained 5.46% during Tuesday’s regular trading and jumped an additional 4.15% after hours Thursday’s Q2 earnings release is expected to show GAAP EPS of €0.04 with r
Nokia (NOK) shares have demonstrated impressive strength over the past 48 hours as investors anticipate Thursday’s second-quarter financial results. The telecommunications equipment maker saw its stock price advance 5.46% during Tuesday’s trading session, closing at $10.63, before climbing another 4.15% in extended trading to touch $11.07.
The Finnish company plans to release its Q2 and first-half 2026 financial results on Thursday morning, scheduled for approximately 8 a.m. Helsinki time. According to Nokia’s announcement, investors will first receive a high-level summary of group performance and forward guidance, with comprehensive segment-by-segment details following in the complete report posted to the company’s investor relations site.
Consensus estimates from analysts project GAAP earnings per share of €0.04 on quarterly revenue of €4.83 billion.
These results represent a critical milestone for assessing whether Nokia’s recent positive trajectory remains intact. During the first quarter, the telecommunications giant posted revenue of $5.26 billion, falling short of analyst projections by 2.50%.
However, Nokia’s artificial intelligence-related performance metrics delivered impressive results. The first quarter demonstrated a remarkable 49% increase in revenue generated from AI and cloud infrastructure customers, a metric that captured significant market attention.
Following that strong AI performance, Nokia upgraded its revenue projection for the Network Infrastructure division to growth between 12% and 14%, representing a substantial increase from the previous forecast range of 6% to 8%.
Nokia recently unveiled what it describes as the telecommunications industry’s inaugural commercial AI-powered radio access network platform, developed through a strategic partnership with Nvidia (NVDA). This innovative platform aims to enhance data transmission capacity across existing telecommunications infrastructure.
Additionally, the Finnish telecommunications equipment provider secured a significant 5G network expansion agreement with Taiwan Mobile last week, implementing its AirScale product suite and AI-enhanced software throughout Taiwan’s mobile communications network.
These strategic initiatives have contributed to heightened investor enthusiasm as the earnings announcement approaches.
Market sentiment isn’t uniformly bullish, however. Seeking Alpha’s quantitative ratings system and analyst consensus both indicate a Hold recommendation, while the broader Wall Street analyst community trends toward Buy ratings.
A Seeking Alpha analyst recently noted: “Q2 should provide the first meaningful test, particularly in IP networks and margins. The earnings ramp could justify the current price if management keeps delivering, but at roughly 29x 2026 earnings, Nokia no longer has much room for an ordinary quarter.”
The valuation concern carries weight. Trading at 29 times forward earnings estimates, the stock requires consistent execution to maintain current levels.
JPMorgan reaffirmed its Overweight recommendation in June while raising its price target from $14 to $21, providing support for the bullish investment thesis.
Technical indicators show Nokia’s Relative Strength Index currently at 36.79, with the stock positioned near the midpoint of its 52-week trading range — specifically at 49.3% between its yearly low of $4 and high of $17.45.
According to Benzinga’s Edge analytics platform, the stock demonstrates a Momentum score in the 94th percentile, suggesting near-term and intermediate-term consolidation within an established longer-term upward trajectory.
Over the trailing twelve months, Nokia has delivered returns of 138.34% and stands up more than 60% for the current year, substantially outperforming the S&P 500’s approximately 10% gain during the comparable timeframe.
Thursday’s quarterly report will serve as the next critical examination of whether the AI infrastructure and optical networking demand narrative maintains momentum through the second quarter.
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