TEL

Norway's Telenor Q2 earnings top estimates, expects COVID-19 impact

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Reuters
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Norway's Telenor said on Thursday it expects a single-digit decline in its subscription and traffic revenues this year due to the impact from the pandemic even as the telecoms operator posted a higher-than-expected quarterly profit.

OSLO, July 16 (Reuters) - Norway's Telenor said on Thursday it expects a single-digit decline in its subscription and traffic revenues this year due to the impact from the pandemic even as the telecoms operator posted a higher-than-expected quarterly profit.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for April-June rose 19% on-year to 14.33 billion Norwegian crowns ($1.54 billion), while analysts in a Refinitiv poll on average had expected 13.77 billion crowns.

($1 = 9.3120 Norwegian crowns) (Reporting by Nerijus Adomaitis, Editing by Sherry Jacob-Phillips) ((nerijus.adomaitis@thomsonreuters.com; +47 9027 6699; Reuters Messaging: nerijus.adomaitis.thomsonreuters@reuters.net)) Keywords: TELENOR RESULTS/

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