Nokia (NYSE: NOK) reported Q4 EPS of EUR0.18, EUR0.04 better than the analyst estimate of EUR0.14. Revenue for the quarter came in at EUR5.98 billion versus the consensus estimate of EUR6.2 billion.

OUTLOOK

Nokia issues full year 2025 outlook on an organic basis. Nokia expects comparable operating profit of between EUR 1.9 billion and 2.4 billion and free cash flow conversion from comparable operating profit of between 50% and 80%.

2026 TARGETS

Nokia's current targets for its existing perimeter of the business for 2026. This does not consider pending acquisitions. Nokia sees further opportunities to increase margins beyond 2026 and believes an operating margin of 14% remains achievable over the longer term.

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