格隆汇10月23日｜诺基亚第三季度调整后营业利润4.35亿欧元，预估3.242亿欧元；诺基亚第三季度调整 后每股收益0.060欧元，预估0.05欧元；诺基亚第三季度调整后运营利润率9％，预估7.58％。诺基亚第 三季度销售净额48.3亿欧元，预估46.3亿欧元；诺基亚预计全年调整后营业利润17亿欧元至22亿欧元， 预估18.1亿欧元。 ...

Core Viewpoint - Finland's Nokia reported third-quarter profit significantly exceeding expectations, driven by robust demand in optical and cloud sectors, particularly from AI-driven data centers following its acquisition of Infinera [1] Group 1: Financial Performance - Nokia's third-quarter profit was well ahead of market expectations, indicating strong financial health and operational efficiency [1] - The company benefited from increased sales attributed to the growing demand for optical and cloud solutions [1] Group 2: Market Demand - There was a notable rise in sales to AI-driven data centers, highlighting a shift in market dynamics and the increasing importance of AI technologies in driving revenue [1] - The acquisition of Infinera has positioned Nokia favorably within the optical networking market, enhancing its product offerings and market reach [1]

Core Insights - Nokia Corporation reported a solid performance in Q3 2025 with net sales growing 9% year-over-year on a constant currency and portfolio basis, and 12% reported [4][7] - The company is on track to achieve its full-year outlook, with a revised comparable operating profit guidance now between EUR 1.7 billion and EUR 2.2 billion [10][18] Financial Performance - Q3 2025 net sales reached EUR 4.83 billion, compared to EUR 4.33 billion in Q3 2024, reflecting a 12% increase [7][11] - Comparable gross margin declined by 150 basis points year-over-year to 44.2%, while the reported gross margin also decreased by 150 basis points to 43.7% [7][8] - Comparable operating margin decreased by 220 basis points year-over-year to 9.0%, with reported operating margin up 140 basis points to 5.0% [7][12] - Q3 2025 comparable diluted EPS was EUR 0.06, down from EUR 0.03 in Q3 2024 [7][12] Business Group Performance - Network Infrastructure saw an 11% increase in net sales, with Optical Networks growing 19%, driven by demand from AI and Cloud customers [5][6] - Cloud and Network Services reported a 13% increase in net sales, benefiting from strong operator investments in 5G Core [6][12] - Mobile Networks experienced a 4% growth, indicating market stabilization [6][12] Strategic Developments - Nokia announced a strategic partnership with Nscale to become a preferred networking equipment vendor for their data center buildout [5] - The company is scaling down its passive venture fund investments, changing how these investments are presented in financials [9][21] Outlook - The company maintains its full-year outlook for 2025, expecting strong growth in Network Infrastructure and Cloud and Network Services, while projecting stable net sales in Mobile Networks [20][18] - Free cash flow is expected to convert at a rate of 50% to 80% from comparable operating profit [15]

Group 1 - Cheniere Energy (NYSE: LNG) is currently viewed as a buy despite recent stock price declines, indicating a solid long-term outlook for the LNG sector [1] - The analyst has over 10 years of experience researching various companies across multiple industries, including commodities and technology, which enhances the quality of insights provided [1] - The analyst has transitioned from writing a blog to creating a value investing-focused YouTube channel, where extensive research on numerous companies has been conducted [1] Group 2 - The analyst expresses a potential interest in initiating a long position in LNG within the next 72 hours, indicating a favorable outlook for the stock [2] - There is no current ownership of stock or derivatives in the companies mentioned, ensuring an unbiased perspective in the analysis [2]

Core Insights - Sociedad Química y Minera de Chile (NYSE: SQM) is the leading lithium producer with operations primarily in Chile and expansion projects in Australia and China, also a leader in other chemicals like iodine and specialty [1] Company Overview - SQM has a strong position in the lithium market, which is critical for electric vehicle batteries and renewable energy technologies [1] - The company is involved in various expansion projects aimed at increasing its production capacity and market reach [1] Industry Context - The demand for lithium is expected to grow significantly due to the increasing adoption of electric vehicles and renewable energy solutions [1] - SQM's operations in Chile provide a strategic advantage due to the country's rich lithium reserves [1]

Press ReleaseGBI selects Nokia to build new network for faster, more resilient connectivity across the Middle East GBI’s new network with Nokia will enhance its regional optical infrastructure with state-of-the-art technology that supports faster, more reliable access to digital services.The new scalable and low-latency network will offer 100G-400G services that boost network resilience and performance for cloud providers, enterprises, and carriers.GBI selected Nokia’s 1830 Global Express (GX) optical platf ...

Core Insights - Nokia has partnered with ST Engineering and First One Systems to deploy an IP/MPLS-based mission-critical Backbone Transmission Network (BTN) for Bangkok's new MRT Orange Line, expected to be completed by 2030 [1][2][9] Group 1: Project Overview - The Orange Line will span 35.9 km, connecting the east and west sides of Bangkok with both underground and elevated transit systems [3] - The project aims to enhance operational efficiency, reliability, and safety in railway systems through digital transformation [3] Group 2: Technical Specifications - Nokia will develop two BTNs with network speeds of 10G and 40G to support voice, data, and video transmission between stations and the Operations Control Center (OCC) [6] - The solution includes the Nokia 7250 Interconnect Router, Nokia 7210 Service Access System, and a service management platform designed for railway communications [9] Group 3: Benefits and Impact - The deployment of Nokia's solution will lead to reduced operational complexity, enhanced security, and improved network visibility for Bangkok Expressway and Metro Public Company Limited (BEM) [9] - The system will support vital and non-vital railway applications, including CCTV surveillance, public announcements, and passenger information displays [2][9]

Core Insights - Nokia has partnered with ST Engineering and First One Systems to deploy an IP/MPLS-based mission-critical Backbone Transmission Network (BTN) for Bangkok's new MRT Orange Line, expected to be completed by 2030 [1][2][9] - The project aims to enhance safety and services for the Mass Rapid Transit system, supporting various applications such as CCTV surveillance, public announcements, and passenger information displays [2][9] Group 1: Project Overview - The Orange Line will span 35.9 km, connecting the east and west sides of Bangkok with both underground and elevated transit systems [3] - The deployment of Nokia's solution will provide a high-capacity, low-latency, reliable, and secure transmission backbone for the railway [2][9] Group 2: Technical Specifications - Nokia will develop two BTNs with network speeds of 10G and 40G to facilitate voice, data, and video transmission between stations and the Operations Control Center (OCC) [6] - The solution includes the Nokia 7250 Interconnect Router, Nokia 7210 Service Access System, and a service management platform, aimed at simplifying operations and maintenance while enhancing network performance visibility [6][9] Group 3: Collaboration and Expertise - The collaboration involves deep technical expertise and seamless integration capabilities from all partners, ensuring the communication system meets international standards [4][5] - Nokia's experience in delivering similar railway projects globally provides confidence in overcoming potential challenges [5]

Company Overview - Centerspace (NYSE: CSR) is a REIT focused on the ownership, management, acquisition, and redevelopment of apartment communities in the Midwest and Mountain West regions [1] Stock Performance - The stock has declined approximately 16% over the past year [1] Analyst Background - The analyst has over 10 years of experience researching companies across various sectors, including commodities and technology, and has written a blog for three years before transitioning to a value investing-focused YouTube channel [1]

Group 1 - The stock of Sempra (NYSE: SRE) has increased by approximately 25% since July, indicating strong market performance and potential undervaluation in a vital industry [1] - The analyst has over 10 years of experience researching companies across various sectors, including commodities and technology, which enhances the credibility of the insights provided [1] - The analyst has transitioned from writing a blog to creating a value investing-focused YouTube channel, showcasing a commitment to in-depth company research [1] Group 2 - The analyst expresses a beneficial long position in Sempra shares, indicating confidence in the company's future performance [2] - The article reflects the analyst's personal opinions and is not influenced by external compensation, ensuring an unbiased perspective [2]