Market expectations point to a comparable net profit of 342 million euros, up from 324 million euros in the same period last year. Revenue is projected to climb 4.7% to 5.06 billion euros. Despite a 63% surge in share price over the past twelve months, the primary concern remains execution risk regarding supply chain stability.

Bank of America Securities suggests any potential upward revision to full-year guidance hinges entirely on securing additional component capacity. If supply remains tight, the company may instead opt to provide forward-looking clarity on 2027 run-rates to soothe investor anxiety. J.P. Morgan analysts are specifically monitoring the internal ramp-up of the San Jose facility, as the market anticipates another quarter of AI-related orders exceeding 2 billion euros. Nokia currently tracks slightly above the midpoint of its 2026 operating profit guidance range of 2.1 billion to 2.6 billion euros.