Nokia Oyj raised its full-year profit forecast on Thursday, a move the telecommunications-equipment maker attributed to an accounting change rather than an improvement in its underlying business.
The Finnish company said it now expects a comparable operating profit for 2025 of between 1.7 billion and 2.2 billion euros, up from its previous range of 1.6 billion to 2.1 billion euros.
The revision comes after Nokia decided to change how it reports gains and losses from its venture fund investments, moving them out of operating profit.
The company said it is scaling down these passive investments to focus on its core strategy.
"The change in presentation of venture fund investments leads to a technical increase of EUR 0.1 billion to our comparable operating profit outlook," President and CEO Justin Hotard said in a statement.
Operationally, the company's outlook for the year is unchanged, it said.
The announcement accompanied third-quarter results where comparable net sales grew 9% on a constant currency basis, driven by strong demand for its network infrastructure products from AI and cloud customers.
However, comparable operating margin for the quarter fell to 9.0% from 11.2% a year earlier, which the company said was due to product mix and a one-time benefit in the prior year.
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