Overview

• Nokia reported a 3% decline in Q1 revenue and a $68.2 million net loss, down from $498 million a year earlier.
• Comparable operating profit plunged 74% to $177 million, driven by weaker sales and a $136 million project settlement.
• CEO Justin Hotard forecasts a €20–30 million Q2 profit impact from U.S. tariffs and has not ruled out expanding U.S. manufacturing to mitigate trade risks.
• Despite weak Q1 results, Nokia maintains its 2025 profit outlook of $2.2–2.7 billion, though achieving the high end is described as challenging.
• Nokia shares fell over 9% in early trading as investors reacted to the tariff warning and disappointing earnings.