Nokia, Inc.: Enterprise & Diversification Strategy Propelling Our ‘Outperform’ Rating!

Nokia Corporation’s Q1 2025 results reflect a mixed performance with signs of recovery and some emerging challenges. The company’s overall net sales declined by 3% year-over-year, largely due to an exceptional licensing revenue surge in Q1 2024. Adjusting for these previous windfalls, Nokia’s net sales actually grew by 7%, displaying solid growth across its various business units, particularly in Network Infrastructure and Cloud and Network Services.