Telenor raises full-year outlook as Q3 earnings beat expectations [Yahoo! Finance Canada]
TELENOR ASA S/ADR (TELNY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance Canada
on Wednesday after it reported third-quarter earnings slightly ahead of market expectations. The company said in a statement that its earnings before interest, tax, depreciation and amortisation (EBITDA) before other items fell to 9.21 billion crowns ($840.08 million) in the July to September quarter, from 9.25 billion a year earlier. That was slightly above analysts' expectations in a consensus poll provided by the company. It now expects 3%-4% organic growth in Nordic service revenues, up from low-to-mid single digits earlier, around 6% Nordic EBITDA growth from mid-single digit earlier, and free cash flow of NOK 9.5-10 billion from the previous NOK 9-10 billion. Telenor said the outlook reflects confidence in Nordic growth, driven by upselling strategies and enhanced services, despite macroeconomic setbacks in Bangladesh. "Following social unrest that led to the toppling of the (Bangladesh) government, we were forced to close our mobile data network," Telenor CEO Sigve Br
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