April 23 (Reuters) - Nokia Oyj NOKIA.HE:

• Q1 NET SALES GREW 3%, WITH STRENGTH IN CORE SOFTWARE

• Q1 COMPARABLE OPER PROFIT EUR 281 MLN VS COMPANY-COMPILED CONSENSUS EUR 250 MLN

• Q1 NETWORK INFRASTRUCTURE NET SALES GREW 6% Y-O-Y ON A CONSTANT CURRENCY AND PORTFOLIO BASIS

• Q1 MOBILE INFRASTRUCTURE NET SALES GREW 3% Y-O-Y ON A CONSTANT CURRENCY BASIS

• WE ARE INCREASING OUR GROWTH ASSUMPTION FOR OPTICAL AND IP NETWORKS

• Q1 OPTICAL NETWORKS GROWING 20%, SUPPORTED BY STRONG ORDER INTAKE AND A BOOK-TO-BILL WELL ABOVE ONE

• WE EXPECT ADDRESSABLE MARKET IN AI & CLOUD TO GROW AT A 27% CAGR (2025-2028), COMPARED TO 16% WE ESTIMATED IN NOVEMBER

• 2026 FCF OUTLOOK UNCHANGED

• WE NOW EXPECT NETWORK INFRASTRUCTURE NET SALES TO GROW BETWEEN 12% AND 14% IN 2026

• WE EXPECT OPTICAL NETWORKS AND IP NETWORKS COMBINED TO GROW BETWEEN 18% AND 20%

• INCREASING OUR INVESTMENT IN OPTICAL NETWORKS

• SEES 2026 CAPEX AT EUR 900 - 1 000 MILLION

• TRACKING SOMEWHAT ABOVE MID-POINT OF FULL YEAR FINANCIAL OUTLOOK OF EUR 2.0 TO 2.5 BILLION IN COMPARABLE OPERATING PROFIT

• NET SALES: NOKIA ASSUMES A 5% TO 9% Q-O-Q INCREASE IN NET SALES IN Q2

• SEES 2026 COMPARABLE FINANCIAL INCOME AND EXPENSES POSITIVE EUR 150 TO 250 MILLION

• COMPARABLE OPERATING PROFIT: NOKIA ASSUMES Q2 OPERATING PROFIT TO ACCOUNT FOR BETWEEN 12% AND 16% OF FULL YEAR OPERATING PROFIT

• EXPECTS 2026 COMPARABLE FINANCIAL INCOME AND EXPENSES OF EUR 150 TO 250 MILLION

Source text: ID:nGNX4frvzC

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