Norway's Telenor Q3 service revenue rises, maintains 2026 forecast

Telenor ASA

28/10/2026 06:10

Overview
Norway telecom operator's Q3 service revenue grew 1.6% yr/yr to NOK 14.8 bln
Adjusted EBITDA rose 1.5% yr/yr; adjusted EPS up 45% to NOK 2.70
Company expanded Nordic broadband and defence presence with Bahnhof acquisition and KNL defence agreement

Outlook
Telenor reaffirms full-year outlook and longer-term ambitions remain unchanged
Group expects flat to slightly negative organic growth in adjusted EBITDA
Company sees free cash flow before M&A of around NOK 10 bln for 2026

Result Drivers
COST MANAGEMENT - Co said disciplined cost management supported quarter-on-quarter improvement in Norway and maintained profitability in Asia
CUSTOMER GROWTH - Sweden added 35,000 new mobile customers in Q3, marking its 15th consecutive quarter of EBITDA growth
DEFENCE & BROADBAND EXPANSION - Co expanded Nordic defence and broadband presence with KNL defence agreement and Bahnhof acquisition

Company press release: ID:nObiHX7Nfa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Service Revenue
 
NOK 14.80 bln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 11 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the wireless telecommunications services peer group is "buy"
Wall Street's median 12-month price target for Telenor ASA is NOK150.00, about 17.5% above its October 27 closing price of NOK127.70
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 14 three months ago

Reuters Recommended Reads
Oct 27 - Telecoms group Orange Q3 revenue rises 3.6%
Oct 26 - Verizon Q3 profit beats; raises 2026 postpaid phone net adds forecast
Oct 26 - Trading platform Plus500 Q3 revenue rises on customer growth

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)