NEW DELHI: Telenor raised its full-year revenue outlook on Tuesday, despite the Norwegian telecoms operator posting a weaker-than-expected quarterly adjusted operating earnings. Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the April-June quarter fell to 12.35 billion Norwegian crowns ($1.38 billion), from 13.18 billion crowns a year earlier, and missed forecasts of 12.7 billion crowns in a company-compiled poll. “Telenor returned to growth in the second quarter. The growth was driven by strong performance in the Nordics, combined with a growing subscriber base and increased data consumption in the Asian markets,” Chief Executive Signe Brekke said in a statement. Negative currency effects, however, offset an underlying improvement by decreasing EBITDA by 1.6 billion crowns, Telenor said. The company, which is selling its Myanmar telecom assets, now expects organic subscription and traffic revenue growth of 0-1% and organic EBITDA growth of 0-2%, up from a previous forecast of maintaining the 2020 level. It kept its forecast for the capex-to-sales ratio unchanged at 15-16%. Follow Gadgets Now on Facebook and Twitter . For the latest news , tech news , breaking news headlines and live updates checkout Gadgetsnow.com Facebook Twitter Linkedin
- Standard Chartered shares surge despite profit slump
- The resurgence of India's fast food industry
- New account method helps Jio stay profitable despite ARPU fall
- South Korea's third-quarter growth slips, global risks scar exports and economic outlook
- Dollar Tree, citing tariffs, cuts outlook and shares plunge
- Nokia slashes profit outlook in fight for 5G business, stock drops 21%
- After WeWork, SoftBank’s startup accounting model under fire. Oyo raises eyebrows
- Better margins for 4th quarter in a row: Can these 7 stocks fly high?
- U.S. economy picks up in third-quarter; data surprise on the upside
- U.S. third-quarter GDP growth raised; business investment stabilizing
Industry: Norway's Telenor raises annual outlook despite quarterly profit slump have 278 words, post on www.gadgetsnow.com at July 21, 2021. This is cached page on IT Breaking News. If you want remove this page, please contact us.