Nokia Oyj (NYSE:NOK) Q2 2023 Results Earnings Conference Call July 18, 2024 4:30 AM ET
Company Participants
David Mulholland - Head of Investor Relations
Pekka Lundmark - President and Chief Executive Officer
Marco Wirén - Chief Financial Officer
Conference Call Participants
Francois-Xavier Bouvignies - UBS
Sandeep Deshpande - J.P. Morgan
Janardan Menon - Jefferies
Simon Leopold - Raymond James
Artem Beletski - SEB Enskilda
Joseph Zhou - Barclays Capital
Sami Sarkamies - Danske Bank
Jakob Bluestone - Exane BNP Paribas
Daniel Djurberg - Handelsbanken
Andrew Gardiner - Citigroup
Richard Kramer - Arete Research
David Mulholland
Good morning, ladies and gentlemen. Welcome to Nokia's second quarter 2024 results call. I'm David Mulholland, Head of Nokia investor relations.
Today, with me is Pekka Lundmark, our President and CEO, along with Marco Wirén, our CFO.
Before we get started, a quick disclaimer. During this call, we will be making forward-looking statements regarding our future business, proposed transactions and financial performance, and these statements are predictions that involve risks and uncertainties. Actual results may therefore differ materially from the results we currently expect. Factors that could cause such differences can be both external as well as internal operating factors. We have identified such risks in the Risk Factors section of our annual report on Form 20-F, which is available on our Investor Relations website.
Within today's presentation, references to growth rates will mostly be on a constant currency basis and margins will be based on our comparable reporting. Please note that our Q2 report and the presentation that accompanies this call are published on our website. This report includes both reported and comparable financial results, and a reconciliation between the two.
In terms of the agenda for today, Pekka will go through some of the key messages from the quarter, Marco will give you a deeper dive on the financial performance and then Pekka will make a few comments on a couple of particular highlights from Q2 and then we'll move to Q&A.
With that, let me hand over to Pekka.
Thanks, David. And thank you for all dialing in today. Before we discuss Q2, I would like to give a quick reminder of some important announcements we made recently. We, of course, announced the planned divestment of our Submarine Networks business to the French State and also our intention to acquire Infinera, North American optical networking company.
The Infinera acquisition will significantly increase the scale and profitability of our optical networks business. It will enable us to deliver faster innovation for customers and expand our position with webscale and regionally in North America. These transactions will focus on strength in our network infrastructure business with its future built on free market leaning units, fixed networks, IP networks, and optical networks.