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Nokia reported a bigger than expected rise in its quarterly comparable operating profit on Thursday, as the Finnish telecom gear maker got a boost from artificial intelligence and cloud customers.
Hydro's adjusted EBITDA for the second quarter of 2026 was NOK 8,923 million, up from NOK 7,790 million in the same quarter last year. Higher aluminium prices and product premiums contributed positively, together with improved earnings in the recycling business. Lower energy production due to hydrology and adverse effects from a stronger NOK contributed negatively. Hydro delivered strong profitability in the quarter, with adjusted earnings per share increasing from NOK 1.7 in the second quarter 2025 to NOK 2.2 in the second quarter 2026. Free cash flow was NOK 4 billion, with strong adjusted EBITDA partially offset by investments and tax payments. The twelve month adjusted RoaCE ended at 10.9 percent.
Nokia heads into Q2 earnings with AI networking advances, customer wins, and a broad 5G portfolio, but competition and telecom spending remain key watchpoints.
Ciena Corporation CIEN and Nokia NOK are benefiting from the rapid adoption of artificial intelligence (AI), which is driving strong demand for high-speed networking infrastructure. As hyperscalers and service providers expand AI deployments, both companies are strengthening their optical networking, routing and switching portfolios to support higher-capacity, low-latency connectivity.
Data centers are great for powering AI model training, but latency issues limit what they can do with real-time AI inference workloads. Nokia's AI-RAN technology turns cell towers into micro data centers, which makes real-time AI inference more reliable.
NOK deepens its Taiwan Mobile partnership with an AI-powered 5G expansion to boost network capacity, efficiency and support advanced 5G services.
Nokia has rallied 140% on strong AI and cloud order momentum, now trading at 29x FY2026 earnings. AI and cloud revenue grew 49% in Q1, with €1B in new firm orders and upgraded 2026 growth guidance for Network Infrastructure. Despite robust demand, supply constraints and heavy R&D investment limit immediate margin expansion; Q2 is a key test for IP Networks growth.
Press Release Nokia and Taiwan Mobile extend 5G partnership to advance AI-powered networks Nokia's AirScale portfolio and AI-driven software power Taiwan Mobile's 5G network modernization for enhanced performance, automation, and sustainability. New collaboration leverages AI across network intelligence, infrastructure, energy management and resilience to enable advanced 5G services and monetization.
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