Nokia’s profits fall 70% to €153 million in the first quarter

Finnish telecommunications equipment company Nokia reported a loss of €60 million, or €0.01 per share, from continuing operations during the first quarter of this year, compared to a loss of €451 million, or €0.08 per share, during the same period last year.

According to Sky News, the company achieved net profits after excluding variable items of €153 million, or €0.03 per share, compared to €512 million, or €0.09 per share, during the same period last year, representing a 70% decrease.

At the same time, Nokia recorded an operating loss of €48 million, compared to an operating profit of €405 million during the first quarter of last year.

Nokia’s sales during the first quarter declined by 1 percent year-on-year to €4.39 billion, compared to €4.44 billion during the same period last year. “Regarding the tariff situation, we may experience some short-term disruptions. We will continue to leverage the resilience of our global manufacturing network to mitigate the impact of tariff developments,” said Justin Hotard, CEO. “Based on what we see today, we anticipate an impact of €20-30 million to our operating profit in the second quarter as a result of the current tariffs. Given the limited visibility, we have not made any assumptions regarding tariffs in the second half of 2025.”