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Telenor Second-Quarter Operating Profit Tops Target

Telenor posted second-quarter operating profits ahead of expectations, boosted by continued revenue growth and stable margins, and maintained its previously-issued guidance for the full-year.

For the second quarter, the Norwegian telecom giant posted operating profit of 4.36 billion Norwegian krone ($761 million), up from 3.94 billion krone a year ago, and ahead of the 3.84 billion krone consensus forecast of analysts polled by TDN Finans.

Earnings before interest, taxation, depreciation and amortization (EBITDA) came in at 7.34 billion krone, down from 7.84 billion Krone last time, and marginally below the 7.41 billion krone consensus forecast.

Sales, meanwhile, came in at 23.16 billion krone, up from 22.00 bln a year ago, but below the 23.22 billion figure seen by analysts.

Telenor's quarterly figures do not include the contribution of Ukraine's Kyivstar, which the Norwegian firm was recently forced to deconsolidate from its overall group accounts due to an ongoing dispute with another major shareholder.