Nokia Q3 beats forecasts with €605 million adjusted operating income
Nokia just had a strong third quarter, with profits beating expectations thanks to a big push into AI and data center tech.
Its adjusted operating income reached €605 million, way above what analysts predicted.
This boost comes as more companies invest in AI infrastructure, and Nokia works through its backlog of orders.
Hotard pivots Nokia, teams with NVIDIA
With 5G growth slowing down, Nokia's CEO Justin Hotard is steering the company toward data centers and AI to keep things moving forward.
It has restructured, sold off some businesses, and is now teaming up with NVIDIA to build smarter network equipment using advanced chips.
Even with challenges like higher prices and supply issues, Nokia's shares have shot up about 50% this year, showing investors are on board with this new direction.