Telenor hikes 2024 sales forecast after in-line Q2 earnings (updated)
18/07/2024 06:21
(Adds outlook in paragraphs 1-2, details on results in
paragraph 3)
July 18 (Reuters) - Norwegian telecom operator Telenor
TEL.OL raised its 2024 sales expectations on Thursday after
its second-quarter earnings met market expectations.
The company hiked its full-year forecast for Nordic service
revenues to low- to mid-single-digit organic growth, compared
with the previous forecast of low single-digit growth.
Earnings before interest, tax, depreciation and amortisation
(EBITDA) before other items rose to 8.79 billion Norwegian
crowns ($820 million) in the April to June quarter from 8.77
billion crown a year earlier, matching analysts' expectations in
a consensus poll provided by the company.
Telenor said it benefited from growth in the Nordic and
Asian markets, backed by strategic investments in technology and
cybersecurity.
($1 = 10.7241 Norwegian crowns)
(Reporting by Jesus Calero in Gdansk; editing by Milla Nissi)
((Jesus.calero@thomsonreuters.com))