Nokia increased third-quarter sales, but its reported and comparable operating results moved in different directions. The 22 October 2026 interim report put revenue at €5.154 billion, up 10% on a reported basis from a year earlier. Comparable sales growth at constant currency was 9%.
That distinction is important for readers following network investment: a stronger comparable result does not mean that every statutory profit measure also improved. Reported operating profit declined 22%, while comparable operating profit rose 35%.
The main Q3 figures
| Measure | Verified figure |
|---|---|
| Reported net sales | €5.154 billion; up 10% Source |
| Comparable constant-currency sales growth | 9% Source |
| Reported operating profit / margin | €196 million / 3.8% Source |
| Comparable operating profit / margin | €605 million / 11.7% Source |
| Continuing-operations diluted EPS | €0.03 reported; €0.09 comparable Source |
| 2026 comparable operating-profit outlook | €2.1 billion to €2.6 billion; forecast unchanged Source |
Nokia attributed the decline in reported operating margin to accelerated restructuring and integration costs. Comparable figures remove specified effects and are alternative performance measures; they are not a second set of reported accounts.
Why the comparison matters
Constant-currency growth reduces the effect of exchange-rate movements when comparing periods. Reported growth reflects the currencies actually translated into the accounts. Neither percentage should be relabelled as the other.
Likewise, operating margin divides operating profit by sales. Comparing a reported margin in one period with a comparable margin in another would mix definitions and obscure the cost picture. Nokia’s report supplies both bases so readers can make matching comparisons.
The full-year outlook remains a forecast. It is not profit already earned, and restructuring costs and cash outflows remain relevant when assessing the difference between the company’s comparable performance and reported results.
For context on network technology development rather than commercial earnings, see CapKet’s report on Samsung’s AI-native 6G tests. A test, order or technology plan should not be treated as recognized revenue without the relevant financial evidence.
Official evidence and scope
Nokia official results and financial tables. Source observed at 2026-10-22T06:16:47.978Z. Figures refer to the stated reporting period, not a live market quotation. The source comparison is AI-assisted, not independent human editorial approval. No share-price reaction or investment recommendation is asserted.
Nokia supplementary official results resource, observed at 2026-10-22T06:22:19.444Z. This issuer resource and the main document are not independent corroborating sources.
Recorded source observation: . This is a source-check timestamp, not a market quote or a new article update.