Nokia Corporation (NOK) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

that could cause such differences can be both external as well as internal operating factors. We have identified such risks in the risk factor section of our annual report on Form 20F, which is available on our investor relations website. Within today's presentation, references to growth rates will mostly be on a constant currency and portfolio basis, and other financial items will be based on our comparable reporting. Please note that our Q2 report and a presentation that accompanies this call are published on our website. The report includes both reported and comparable financial results and reconciliation between the two. In terms of the agenda for today, Justin will go through our key messages from the quarter, and then Marco will go through the financial performance, and we'll then move to Q&A. With that, let me hand over to Justin. Thanks, David, and good morning. During my first quarter as president and CEO, I've spent significant time engaging with our stakeholders. and it has left me with two conclusions. First, I have increased optimism about our future opportunity. It is clear to me that connectivity will be a critical differentiator in the AI super cycle. That is true not only for the hyperscalers where it's visible today, but also for communication service providers and increasingly in areas like defense and national security. With our portfolio in mobile and fiber access, transport and data center networks. Nokia is uniquely positioned to be a leader in this market transition. We are investing to capitalize on this opportunity, and we are already starting to see success today in areas like optical networking. Second, our customers expect us to engage with them as one integrated company, as the majority of them partner with us across our portfolio. We be...