Telia beats forecasts as Nordic telecom group lifts operating profit
Swedish network operator Telia reported third-quarter revenue of 21.3 billion kronor, more than analysts had expected.
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Telecoms group Telia performed better than analysts had expected in the third quarter. Revenue came in at 21.3 billion Swedish kronor against expectations of 20.7 billion. Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) reached 8.87 billion kronor, above the forecast 8.73 billion. Operating profit (EBIT) was 4.4 billion kronor, compared with an expected 4.22 billion.
Stockholm-based Telia runs mobile and fixed-line networks in the Nordic and Baltic countries. European telecoms groups have for years been under pressure to fund heavy investment in fibre and 5G networks from stable earnings. The third-quarter figures show Telia ahead of market estimates on both revenue and earnings.