Equity Profile

NOK

Nokia Oyj

Information TechnologyCommunications Equipment$78.4B

Jul23Thu

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

Nokia Oyj is a technology company that specializes in communications equipment, playing a vital role in the global telecommunications infrastructure. With a market cap of $78 billion, Nokia is positioned in the Information Technology sector, focusing on key themes like 5G technology and network modernization.

Key Metrics to Watch

Revenue Growth

Investors will be keen to see how Nokia's revenue is trending, especially with the increasing demand for 5G networks.

N/A

Earnings Per Share (EPS)

EPS is a crucial indicator of profitability and will help gauge how well Nokia is managing costs amid competitive pressures.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

NOK Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

50%

Avg EPS Surprise

-16.72%

Avg Stock Reaction

+0.38%

Last Quarter Recap

In the last quarter, Nokia reported an EPS of $0.02, falling short of the expected $0.06, which led to a significant market reaction. The stock rose by 4.77% the following day, indicating some investor optimism despite the earnings miss.

Management Promises & Guidance

Focus on improving operational efficiency.
Commitment to enhancing 5G technology offerings.
Plans to expand into new markets.

Expectations

Wall Street Expectations

Overall, expectations are mixed as Nokia has struggled with earnings surprises in recent quarters, leading to uncertainty about future performance. Investors are looking for signs of recovery in profitability and revenue growth.

Bull Case

If Nokia can demonstrate strong revenue growth and improved EPS, it could signal a turnaround, boosting investor confidence and stock performance.

Bear Case

On the other hand, continued earnings misses or weak guidance could lead to further declines in stock price, as investors may lose faith in the company's ability to execute its strategy.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the EPS for this quarter, and how does it compare to previous quarters?

Given the recent earnings misses, a strong EPS figure is crucial for restoring investor confidence.

How is Nokia addressing competitive pressures in the 5G market?

Understanding Nokia's strategy in a rapidly evolving market will be key to assessing its future growth potential.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Nokia's potential for recovery in the 5G sector, as recent investments in technology could lead to better-than-expected results.

Supporting Evidence

The stock has shown resilience with a 4.77% increase despite missing EPS expectations last quarter.

Options pricing suggests a significant move, indicating that investors are anticipating a more volatile outcome.

Nokia's commitment to enhancing its 5G offerings could translate into stronger revenue growth.

Key Risk

If Nokia's EPS exceeds $0.06, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on Nokia's ability to navigate competitive pressures and improve profitability.

Bull Confirmed If

A revenue growth rate of over 10% year-over-year would confirm the bull case.

Bear Confirmed If

A decline in net profit margin below 5% would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±17.00%

Historical Avg

±6.0%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings announcement.

Options are pricing ±17.0% while NOK has averaged ±6.0% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.8%

30d HV

74.7%

Calls (30.1M)P/C Ratio: 0.22Puts (7.6M)

Edge

Historical Setup Match

Cross-company pattern from 29 similar setups.

Prior-quarter miss + options pricing rich setup in Information Technology

n=29

Fade rate: 9 of 29 (31%)

This setup has occurred 29 times across Information Technology in the last 2 years. 20 of 29 (69%) held or extended their move within 5 days — this setup typically holds direction. The average absolute 1-day move is 8.2%, with a raw directional average of +3.5% (modestly positive historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Nokia beats expectations, history suggests the stock could rise by around 3.36%, confirming a positive outlook.

In-Line / Cautious

If results are in line but cautious, the stock may experience muted movement as investors digest the information.

Miss

In the event of a miss, history indicates a potential drop of around 2.60%, reflecting continued investor concern.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on 5G deployment progress and related revenue.
2Details on cost management strategies and their impact on margins.
3Insights into new market opportunities and partnerships.
4Management's outlook on competitive pressures and market share.
5Any commentary on future guidance and expected growth rates.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

Key Metrics to Watch

Revenue Growth

Investors will be keen to see how Nokia's revenue is trending, especially with the increasing demand for 5G networks.

N/A

Earnings Per Share (EPS)

EPS is a crucial indicator of profitability and will help gauge how well Nokia is managing costs amid competitive pressures.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

NOK Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

50%

Avg EPS Surprise

-16.72%

Avg Stock Reaction

+0.38%

Last Quarter Recap

Management Promises & Guidance

Focus on improving operational efficiency.
Commitment to enhancing 5G technology offerings.
Plans to expand into new markets.

Expectations

Wall Street Expectations

Bull Case

If Nokia can demonstrate strong revenue growth and improved EPS, it could signal a turnaround, boosting investor confidence and stock performance.

Bear Case

On the other hand, continued earnings misses or weak guidance could lead to further declines in stock price, as investors may lose faith in the company's ability to execute its strategy.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the EPS for this quarter, and how does it compare to previous quarters?

Given the recent earnings misses, a strong EPS figure is crucial for restoring investor confidence.

How is Nokia addressing competitive pressures in the 5G market?

Understanding Nokia's strategy in a rapidly evolving market will be key to assessing its future growth potential.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Nokia's potential for recovery in the 5G sector, as recent investments in technology could lead to better-than-expected results.

Supporting Evidence

The stock has shown resilience with a 4.77% increase despite missing EPS expectations last quarter.

Options pricing suggests a significant move, indicating that investors are anticipating a more volatile outcome.

Nokia's commitment to enhancing its 5G offerings could translate into stronger revenue growth.

Key Risk

If Nokia's EPS exceeds $0.06, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on Nokia's ability to navigate competitive pressures and improve profitability.

Bull Confirmed If

A revenue growth rate of over 10% year-over-year would confirm the bull case.

Bear Confirmed If

A decline in net profit margin below 5% would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±17.00%

Historical Avg

±6.0%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings announcement.

Options are pricing ±17.0% while NOK has averaged ±6.0% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.8%

30d HV

74.7%

Calls (30.1M)P/C Ratio: 0.22Puts (7.6M)

Edge

Historical Setup Match

Cross-company pattern from 29 similar setups.

Prior-quarter miss + options pricing rich setup in Information Technology

n=29

Fade rate: 9 of 29 (31%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Nokia beats expectations, history suggests the stock could rise by around 3.36%, confirming a positive outlook.

In-Line / Cautious

If results are in line but cautious, the stock may experience muted movement as investors digest the information.

Miss

In the event of a miss, history indicates a potential drop of around 2.60%, reflecting continued investor concern.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on 5G deployment progress and related revenue.
2Details on cost management strategies and their impact on margins.
3Insights into new market opportunities and partnerships.
4Management's outlook on competitive pressures and market share.
5Any commentary on future guidance and expected growth rates.