Nokia Shares Vault on AI Networking Growth
In its quarterly earnings, Nokia reported results reflecting big gains in its renewed strategic focus on datacenter networking and AI infrastructure.
The Finnish company reported third-quarter profit ahead of market expectations on Thursday, driven by strong optical and cloud demand. This included growth in AI-focused datacenter sales following its acquisition of optical networking specialist Infinera. Shares vaulted 10% higher in midday trading.
Big Growth in Cloud
Nokia management said artificial intelligence and cloud customers accounted for 6% of group net sales and 14% of network infrastructure sales, with optical networks up 19%.
Key points in the earnings statement:
- Revenue increased 9% year-over-year (y/y).
- Nokia beat EPS expectations by 21%.
- Management said new partnerships and product launches are driving growth.
To access the rest of this article, you need a Futuriom CLOUD TRACKER PRO subscription — see below.
Access CLOUD TRACKER PRO
|
CLOUD TRACKER PRO Subscribers — Sign In |
