Nokia Corporation (NOK) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning ladies and gentlemen, welcome to Nokia's second quarter 2026 results call. I'm David Mulholland, ladies and gentlemen, welcome to Nokia's second quarter 2026 results call. I'm David Mulholland, headed with Marco Wiren, our CFO, and today with me is Justin Hotard, our president and CEO, along with Marco Wiren, our CFO. Before we get started, a quick disclaimer. During this call, we will be making full risks and uncertainties. Actual results could therefore differ materially from the results we currently expect. Factors that could cause such differences could therefore differ materially from the results we currently expect. Factors that could cause such differences could be with external as well as internal operating factors. which is available on our Investor Relations website. Within today's presentation, references to growth rates will be available on our Investor Relations website. Within today's presentation, references to growth rates will be available on our Investor Relations website. Please note that our Q2 reported and a presentation of the company's list 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, we'll then move to QA. With that, let me hand over to Justin. Thanks, David, and hello, everyone. Our second quarter should continue progress against the strategy we set out in our capital markets day. Our team is focused on maximizing our opportunity in the AI super cycle. Our team is focused on maximizing our opportunity in the AI super cycle. And that focus is translating into early results. In Q2, net sales grew 9%. In Q2, net sales grew 9%. We expanded our gross margin by 70 basis points to 9%. Network infrastructure deli...