Underlying profitability improved but was offset by Nokia Technologies and a one-off software deal in Mobile Networks in the prior year meaning margins declined y-o-y. Comparable gross margin of 40.6% and operating margin of 12.2%.Cloud and Network Services net sales were flat in constant currency while Nokia Technologies declined 25% as it continued to be impacted by expired licenses that are in the process of being renewed.Network Infrastructure net sales grew 12% in constant currency, with growth across all four businesses while Mobile Networks returned to growth despite ongoing supply chain constraints.Q2 net sales increased 3% y-o-y in constant currency (+11% reported).More specifically, the Finnish tech giant reported revenue of 460 million Euros in profits, and 5.87 billion Euros in net sales.Īn official press statement from the company included a summary of Nokia’s Financial Report for Q2 and Half year 2022. Nokia has recently posted new data for its financial performance during Q2 2022, showing some solid numbers in the quarter.
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