On July 24, Nokia Oyj declined 3.29% overnight, trading at $9.43/share, with turnover of $3.5521 million.

On the news front, Nokia released its Q2 earnings on July 23 pre-market, reporting adjusted comparable operating profit of EUR 4.34 billion, up 18% year-over-year and significantly beating the consensus estimate of EUR 3.82 billion. AI and cloud business orders reached EUR 2.8 billion with sales more than doubling year-over-year. The company raised its full-year comparable operating profit guidance to EUR 2.1-2.6 billion. Despite the strong beat, the stock reversed sharply after initially surging 6-8% in European and U.S. pre-market sessions. The sell-off reflects classic profit-taking pressure, as the stock had previously rebounded significantly following a roughly 19.5% weekly decline. Additionally, Nokia's CEO noted that chip supply constraints are lengthening order delivery cycles, introducing uncertainty around near-term revenue conversion timing.

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