On July 24, Nokia Oyj declined 3.19% in regular trading, trading at $9.325/share, with turnover of $170 million. The decline extends post-earnings selling pressure following the company's Q2 report released on July 23.

Nokia's Q2 adjusted comparable operating profit reached €4.34 billion, up 18% year-over-year and significantly exceeding the market consensus of €3.82 billion. Adjusted EPS of $0.08 beat the $0.07 estimate by approximately 14%. The AI and cloud business segment posted order intake of €2.8 billion with sales doubling year-over-year. The company raised its full-year comparable operating profit guidance to €2.1 billion to €2.6 billion, up from the prior range of €2.0 billion to €2.5 billion.

Despite the strong results, Nokia's CEO noted that chip supply constraints are extending order delivery timelines. The stock had initially surged 6%-8% in pre-market on earnings day before reversing sharply, closing down over 5% on July 23. Following a prior cumulative rebound from a roughly 19.5% drawdown, the current decline reflects continued profit-taking pressure as the positive catalyst is digested.

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