Filing Flows › Nokia (NOK) › FY2024
Nokia (NOK) FY2024 earnings results (fiscal 2024)
20-F filed Mar 13, 2025
Nokia (NOK) reported revenue of $19.2B for the fiscal 2024 (FY2024), -9% from a year earlier. Operating margin was 10.2%, net earnings $1.3B (6.7% of revenue).
Nokia, FY2024: revenue $19.2B (-9% year over year), operating margin 10.2%, net earnings $1.3B, operating cash flow $2.5B. The chart follows the revenue to costs, profit and cash.
| FY2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $19.2B | — | -9% |
| Gross profit | $8.9B | — | +4% |
| Operating profit | $2.0B | — | +14% |
| Net earnings | $1.3B | — | +89% |
| Operating cash flow | $2.5B | — | +89% |
What changed
Revenue was €19.2B in FY2024, down 9% year over year.
Gross margin was 46.1%, up 5.7 points from FY2023. Operating profit was €2.0B, a 10.2% margin (up 2.1 points year over year). Operating expenses grew 1% against a revenue fall of 9%. Net earnings were €1.3B, up 92% year over year. The effective tax rate was 22.8%.
Operating cash flow was €2.5B (up 89% year over year), 194% of net earnings. Non-cash charges added back €1.0B of depreciation and amortization and €0.24B of share-based compensation.
Questions
What was Nokia's revenue in the fiscal 2024?
Nokia (NOK) reported revenue of $19.2B for the fiscal 2024 (FY2024), -9% from a year earlier.
Was Nokia profitable in the fiscal 2024?
Operating profit was $2.0B (10.2% of revenue) and net earnings $1.3B.
Source: Nokia 20-F on SEC EDGAR.