On July 23, Nokia Oyj declined 3.16% in regular trading, trading at $9.86/share, with turnover of $646 million. Despite releasing strong Q2 earnings before market open, the stock reversed sharply after initially surging 6-8% in European and pre-market sessions.

Nokia reported Q2 comparable operating profit of EUR 4.34 billion, up 18% year-over-year, significantly exceeding the market consensus of EUR 3.82 billion. Adjusted EPS came in at $0.08, beating estimates of $0.07 by approximately 14%. The company raised its full-year adjusted operating profit guidance to EUR 2.1-2.6 billion from a prior range of EUR 2.0-2.5 billion. AI and cloud business orders reached EUR 2.8 billion, with sales more than doubling year-over-year.

Despite the beat-and-raise quarter, the stock reversal appears driven by profit-taking. Nokia had previously dropped approximately 19.5% before staging a multi-day rebound ahead of earnings, accumulating significant gains that created sell-the-news pressure once the positive results were released.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)