Nokia Q2 sales up 11% to €5.8 bn due to network infrastructure

Nokia said sales increased 11 percent to €5.873 billion during the second quarter of 2022 thanks to 12 percent growth in Network Infrastructure sales.
Nokia AirScaleNokia said it achieved growth across all four businesses while mobile networks returned to growth despite ongoing supply chain constraints.

Nokia said Cloud and Network Services net sales were flat in constant currency while Nokia Technologies declined 25 percent as it continued to be impacted by expired licenses that are in the process of being renewed.

Nokia generated €2.593 billion (+9 percent) from mobile networks business, €2.153 billion (+21 percent) from network infrastructure, €753 million (+7 percent) from Cloud and Network Services and €305 million (–24 percent) from Nokia Technologies during April-June quarter of 2022.

Nokia CEO Pekka Lundmark said: “We have a strong first half and with our renewed competitiveness, we are well placed to deliver our full year 2022 guidance. There remain risks around timing of Nokia Technologies’ contract renewals, potential COVID-19 lockdowns and the supply chain which remains challenging but is showing signs of improvement.”

“We are currently tracking towards the higher-end of our net sales guidance and towards the mid-point of our operating margin guidance as we manage ongoing inflation and currency headwinds.”