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Nokia Beats Profit Expectations as AI and Cloud Growth Power Optical Sales

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Nokia reported a stronger-than-expected third-quarter profit, lifted by booming demand for cloud infrastructure and AI-driven data center equipment following its acquisition of U.S. optical networking firm Infinera. Shares surged 10.6% to €5.20 — their highest level in over three years — adding €3 billion to the company’s market value.

Comparable operating profit reached €435 million ($507 million), well above analysts’ forecasts of €342 million, according to LSEG data. Group net sales rose 12% to €4.83 billion, supported by a 19% increase in optical network revenue on a constant currency basis. AI and cloud clients accounted for 6% of total sales and 14% of Nokia’s network infrastructure revenue.

CEO Justin Hotard said AI and data center demand “continues to accelerate,” underscoring the company’s growing focus beyond traditional mobile networks. Despite headwinds from U.S. tariffs, currency weakness, and losing a key AT&T 5G contract to Ericsson, Nokia upgraded its annual operating profit outlook to a range between €1.7 billion and €2.2 billion.

Microsoft Unifies AI Marketplaces for Business Buyers

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Microsoft announced on Thursday that it is merging its separate AI marketplaces into a single platform called the Microsoft Marketplace, streamlining how businesses access AI tools.

Previously, the company ran one marketplace for software developers building on its Azure cloud and another for AI-powered applications and “agents” designed to complete tasks for end users.

The unified marketplace launched in the U.S. on Thursday and will roll out globally in the coming months. It is aimed squarely at corporate technology buyers, with apps integrated for smooth use alongside Microsoft products. Purchases will also be handled through customers’ existing Microsoft billing systems, said Alysa Taylor, chief marketing officer for commercial cloud and AI.

Unlike consumer app stores, Microsoft will not charge commissions on sales. Instead, it collects a publishing fee for apps listed and benefits from the developers’ use of Microsoft cloud services.

To ensure business data security, all apps must pass Microsoft’s security and compliance reviews before being listed. “There’s a gate to get into the marketplace,” Taylor noted.

The move consolidates Microsoft’s AI ecosystem, making it easier for companies to discover, deploy, and pay for AI tools within the broader Microsoft environment.

UK’s Bytes Technology Shares Plunge 27% After Profit Warning on Restructuring Delays and Market Pressures

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Shares of Bytes Technology (BYIT.L), a UK-based IT firm, tumbled over 27% on Wednesday following a profit warning. The company announced that its operating profit for the first half of fiscal 2026 would be marginally lower than expected, citing delayed customer decisions and extended internal restructuring readjustments as key factors.

Bytes attributed the weak trading in the early months of the year to macroeconomic challenges, which led many corporate clients to defer purchasing decisions. The firm is transitioning from a generalist sales approach to specialized, customer segment-focused teams—a shift that has taken longer to implement than initially anticipated.

Additional pressure came from changes to Microsoft’s enterprise agreement program, which reduced certain transactional incentives. These changes particularly impacted the first half of the fiscal year due to a high volume of contract renewals in March and April.

On Wednesday, Bytes reported that gross profit for the first half of fiscal 2026 is expected to remain flat, contrasting with its May guidance, which projected double-digit gross profit growth and high single-digit operating profit growth for the year. For comparison, the company posted an operating profit of £35.6 million ($48.8 million) in the first half of fiscal 2025.

The stock dropped to 369 pence at one point—the lowest since April 2023—before recovering slightly to 391.4 pence by 08:00 GMT. Analysts from Jefferies noted that the cautious AGM update, which downgraded growth expectations, may have surprised investors.