{
  "id": 16014489,
  "title": "Nokia profit doubles in 3rd quarter on AI spending",
  "url": "https://urgent.news/2026/10/22/nokia-profit-doubles-in-3rd-quarter-on-ai-spending",
  "topic": "ai",
  "section": "AI",
  "published": "2026-10-22T07:20:47.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40445436/nokia-profit-doubles-in-3rd-quarter-on-ai-spending"
  },
  "original_language": "en",
  "account": "Nokia, the Finnish telecoms equipment maker, reported a significant increase in profit for the third quarter of the year. The company's earnings more than doubled, reaching 156 million euros ($175 million) compared to 80 million in the same period last year. This growth was driven by increased investment in artificial intelligence (AI) technology.\n\nSales for the quarter also rose by 10 percent to a total of 5.2 billion euros, surpassing what analysts had predicted. The company highlighted a 123 percent increase in sales to clients in the AI and cloud-networking sectors compared to the previous year.\n\nNokia's CEO, Justin Hotard, emphasized the company's strategic positioning in the growing demand for AI infrastructure. He noted that Nokia's unique strengths are well-suited to meet these demands, which are becoming larger, more distributed, and hyperconnected. Hotard specifically cited Google's significant investment of 13 billion euros to build a data center in Finland, as an example of the importance of AI infrastructure.\n\nOperating profit for the quarter reached 605 million euros, marking a 35 percent increase from the 448 million euros recorded in the same period last year. This result exceeded analysts' expectations, who had forecast 462 million euros.",
  "summary": "HELSINKI: Finnish telecoms equipment maker Nokia said Thursday profit almost doubled in the third quarter, boosted by investment in AI. Profit in the quarter rose to 156 million euros ($175 million) from 80 million in the same period the year before, while sales rose 10 percent to 5.2 billion euros, beating analyst expectations. The company said sales to artificial intelligence and…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}