Telia rises on Q3 core earnings beat, outlook upgrade

Telia AB

24/10/2024 08:42

** Shares in Telia  TELIA.ST  rise 3.4% after the Swedish
telecom operator beat Q3 core earnings estimates and hiked its
outlook
    ** The group now sees 2024 adjusted EBITDA like-for-like
growing by mid-single digits versus previously seen growth by
low to mid-single digits
    ** Q3 adjusted EBITDA came in at SEK 8.48 billion ($801
million), slightly higher than SEK 8.39 billion seen in a
company-provided consensus
    ** J.P. Morgan and Citi both say the beat was mainly driven
by TV & Media, with JPM also pointing to beats in Sweden and
Finland
    ** "With the report and outlook, there is some upward
pressure on our earnings forecasts for Q4," says Inderes analyst
Joni Grönqvist 
    ** The stock is on track for its best day since July, if
gains hold

 (Reporting by Jagoda Darlak)
 ((Jagoda.Darlak@thomsonreuters.com; +48 58 769 65 40;))