Adds details on results
STOCKHOLM, April 23 (Reuters) - Nordic telecom operator Telia TELIA.ST on Friday reported quarterly core earnings above market expectations and said it was maintaining its full-year outlook despite the pandemic affecting parts of its business.
The company said the first-quarter results took a hit due to increased COVID-19 restrictions, including store closures, versus the prior quarter, and lower roaming revenue as people traveled less.
Telia's first-quarter adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) fell to 7.25 billion Swedish crowns ($859.9 million) from 7.28 billion crowns a year earlier, beating the mean forecast of 7.19 billion crowns, according to Refinitiv estimates.
Under Allison Kirkby, who took over as chief executive officer last year from a rival telecom operator, the company has reinstated its dividend, sold several businesses and launched a strategy to cut costs and boost shareholder returns.
First-quarter revenue fell 2.7% to 21.81 billion crowns, but edged past estimates of 21.66 billion crowns.
($1 = 8.4199 Swedish crowns)
(Reporting by Supantha Mukherjee in Stockholm, editing by Helena Soderpalm and Subhranshu Sahu)
((supantha.mukherjee@thomsonreuters.com; +46 70 721 1004; Reuters Messaging: supantha.mukherjee.thomsonreuters.com@reuters.net))
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