Core Viewpoint - Nokia's second-quarter performance was negatively impacted by tariffs and a weakening dollar, leading to a revenue increase of only 2% to €4.55 billion, which fell short of market expectations [1] Group 1: Financial Performance - Adjusted operating profit for the second quarter was €301 million (approximately $354 million), a 29% decline from €423 million in the same period last year, significantly below the Bloomberg analyst average expectation of €399 million [1] - Nokia has lowered its full-year operating profit guidance to between €1.6 billion and €2.1 billion, down from a previous high of €2.4 billion [1] Group 2: Market Conditions - The ongoing trade war initiated by the Trump administration has disrupted global supply chains, adversely affecting various industries, including Nokia [1] - Operators are hesitant to invest in expensive network upgrades, which has intensified competition between Nokia and its rival Ericsson [1][2] Group 3: Management Response - CEO Pekka Lundmark emphasized the need for continuous improvement in operations to enhance speed, efficiency, and focus on core business value creation [2] - The company is working on integrating corporate functions, streamlining workflows, and fostering a more cohesive corporate culture to leverage operational efficiencies [2] Group 4: Stock Performance - Following the downgrade of its earnings guidance, Nokia's stock experienced a significant drop in the Helsinki stock market, with a year-to-date decline of 12% [3]

诺基亚第二季度销售净额45.5亿欧元，预估47.8亿欧元。 ...

智通财经7月24日电，诺基亚第二季度调整后营业利润3.01亿欧元，预估3.994亿欧元。诺基亚第二季度 调整后每股收益0.040欧元，预估0.06欧元。 ...

Core Viewpoint - Nokia Corporation reported solid performance in Q2 2025, although results were impacted by currency fluctuations, particularly a weaker USD, leading to a decline in net sales on a constant currency basis [7][12][13]. Financial Performance - Q2 2025 comparable net sales decreased by 1% year-over-year on a constant currency and portfolio basis, while reported sales declined by 2% [8][15]. - Mobile Networks experienced a significant decline of 13% in net sales, primarily due to a prior year settlement benefit and project timing in India [7][8]. - Network Infrastructure grew by 8%, and Cloud and Network Services saw a growth of 14% [8][9]. - Comparable gross margin remained stable at 44.7%, while the operating margin decreased by 290 basis points to 6.6% due to a negative impact from venture funds and tariffs [10][14]. - The company reported a comparable diluted EPS of EUR 0.04, with a free cash flow of EUR 0.1 billion and a net cash balance of EUR 2.9 billion [8][10]. Outlook - The full-year 2025 comparable operating profit outlook has been revised to a range of EUR 1.6 billion to EUR 2.1 billion, down from EUR 1.9 billion to EUR 2.4 billion, due to currency impacts and tariffs [12][13][20]. - The company expects a stronger performance in the second half of 2025, particularly in Q4, with anticipated growth in Network Infrastructure and Cloud and Network Services [12][19]. - The underlying business is trending largely as expected, with stable net sales in Mobile Networks on a constant currency basis [12][19]. Strategic Positioning - The CEO emphasized the importance of connectivity in the AI supercycle, positioning Nokia as a leader in mobile and fiber access, data center, and transport networks [4][6]. - There is a focus on unifying corporate functions to enhance productivity and customer value [5]. - Continued strong order momentum in Optical Networks was noted, with a book-to-bill ratio above 1, driven by new hyperscaler orders [11].

Group 1 - Nokia has lowered its profit guidance for 2025 due to a weaker dollar and trade tariff issues, now expecting operating profit between €1.6 billion and €2.1 billion, down from a previous forecast of €1.9 billion to €2.4 billion [1] - The adjustment in guidance highlights the impact of the trade war initiated by the Trump administration, affecting supply chains and economic conditions across various industries, particularly for network equipment manufacturers like Nokia and Ericsson [1] - Nokia's stock price fell by 8.2% to €3.77 in Helsinki, marking the largest intraday drop since April 24, while its US shares dropped by 6.11% [1] Group 2 - The company anticipates a loss of approximately €230 million due to currency fluctuations, particularly the dollar exchange rate, and expects tariffs to reduce its annual operating profit by €50 million to €80 million [1] - For the second quarter, Nokia estimates net sales of about €4.55 billion, showing slight growth year-on-year but falling short of analyst expectations of €4.8 billion [2] - Citigroup analyst Andrew Gardiner noted that while market sentiment may be negatively affected, the primary reasons being currency and tariff risks may not be as severe as potential demand or profit issues [2]

Core Viewpoint - Nokia has lowered its full-year operating profit forecast due to adverse effects from exchange rate fluctuations and tariffs [1] Financial Performance - The company now expects comparable operating profit for 2025 to be between €1.6 billion and €2.1 billion, down from the previous forecast of €1.9 billion to €2.4 billion [1] - The anticipated negative impact from exchange rate fluctuations, particularly the weakening of the US dollar, is estimated to be around €230 million [1] - Current tariff conditions are expected to reduce the company's full-year operating profit by €50 million to €80 million [1] - Preliminary financial data for the second quarter shows net sales of approximately €4.55 billion and comparable operating profit of €300 million [1]

诺基亚预计全年调整后运营利润16亿-21亿欧元，分析师预期20.8亿欧元。 ...

市场消息：诺基亚下调2025年运营利润指引。 ...

Core Viewpoint - Nokia has lowered its 2025 operating profit guidance due to adverse currency fluctuations and tariff impacts, adjusting the range from EUR 1.9 billion to EUR 2.4 billion down to EUR 1.6 billion to EUR 2.1 billion [2][4][7] Financial Guidance Update - The updated comparable operating profit outlook for 2025 is now EUR 1.6 billion to EUR 2.1 billion, down from the previous range of EUR 1.9 billion to EUR 2.4 billion [4][7] - Free cash flow conversion guidance remains unchanged at 50% to 80% from comparable operating profit [4] - The new guidance is based on a EUR:USD exchange rate of 1.17, compared to the previous rate of 1.04 used in January [2][4] Impact of External Factors - Currency fluctuations, particularly the weaker USD, are expected to have a negative impact of approximately EUR 230 million on the 2025 outlook, which includes EUR 140 million operationally and EUR 90 million from non-cash venture fund currency revaluations [3] - The current tariff landscape is anticipated to affect full year operating profit by EUR 50 million to EUR 80 million [3] Preliminary Q2 Financials - For the second quarter, Nokia expects to report net sales of approximately EUR 4.55 billion and a comparable operating profit of EUR 300 million, which includes a negative impact of EUR 50 million from its venture funds primarily related to currency [5][7] - The official release of the second quarter and half year 2025 financial results is scheduled for July 24, 2025 [5][6]

Core Viewpoint - Nokia has lowered its 2025 operating profit guidance due to adverse currency fluctuations and tariff impacts, adjusting the range from EUR 1.9 billion to EUR 2.4 billion down to EUR 1.6 billion to EUR 2.1 billion [2][8]. Financial Guidance Update - The updated comparable operating profit outlook for 2025 is now EUR 1.6 billion to EUR 2.1 billion, down from the previous range of EUR 1.9 billion to EUR 2.4 billion [4][8]. - The guidance for free cash flow conversion from comparable operating profit remains unchanged at 50% to 80% [4]. - The new guidance is based on a EUR:USD exchange rate of 1.17, compared to the previous rate of 1.04 used in January [2][4]. Impact of External Factors - Currency fluctuations, particularly the weaker USD, are expected to have a negative impact of approximately EUR 230 million on the operating profit, which includes EUR 140 million operationally and EUR 90 million from non-cash venture fund currency revaluations [3]. - The current tariff landscape is anticipated to further impact the full year operating profit by EUR 50 million to EUR 80 million [3]. Preliminary Financial Results - For the second quarter, Nokia expects to report net sales of approximately EUR 4.55 billion and a comparable operating profit of EUR 300 million, which includes a negative impact of EUR 50 million from its venture funds primarily related to currency [5][8]. - The official release of the second quarter and half-year 2025 financial results is scheduled for July 24, 2025 [5].