Nokia Oyj's stock surged 8.46% intraday, marking a significant rebound for the telecommunications equipment maker. The movement was driven by the company's release of its second-quarter financial results, which exceeded market expectations and highlighted robust growth in key strategic areas.

The company reported quarterly earnings of $0.08 per share, beating the analyst consensus estimate of $0.07 by 14.29%. Quarterly sales of $5.598 billion also surpassed estimates of $5.590 billion. More importantly, Nokia demonstrated strong momentum in artificial intelligence and cloud infrastructure, with sales to AI & Cloud customers more than doubling year-over-year and the company booking €2.8 billion in new orders from this segment.

Investor sentiment was further bolstered by Nokia's strategic initiatives, including its partnership with NVIDIA on the industry's first commercial AI-RAN platform, which promises significant spectral efficiency gains. The company also reclassified two network units as discontinued operations as part of its restructuring and revised its full-year comparable operating profit outlook upward to a range of €2.1 billion to €2.6 billion, citing continued strong demand while acknowledging supply constraints as an industry challenge.