Telenor Q2 core profit slips, cuts revenue target

Music

Norwegian Telenor reported a surprise fall in second-quarter core earnings, against analyst expectations for a rise, and the telecoms group cut its 2008 revenue growth forecasts.

Earnings before interest, tax, depreciation and amortization (EBITDA) amounted to 7.21 billion Norwegian crowns ($1.43 billion) in April-June from 7.32 billion in the year-ago period.

The result missed an average forecast of 7.5 billion crowns in a Reuters poll of 16 analysts, whose predictions had ranged from 7.31 billion to 7.64 billion crowns.

Telenor, worth $30 billion, revised down its 2008 financial target for revenue growth to around 3% from 5%. It maintained its 2008 EBITDA margin at above 31% and capital expenditure at 20% of revenues. (Reuters)

ADVERTISEMENT

Budapest Named 5th Best City in Europe for Bargain Lovers Analysis

Budapest Named 5th Best City in Europe for Bargain Lovers

Parl't approves 2023 budget Parliament

Parl't approves 2023 budget

Danubius Hotels Appoints Group Director of Development Appointments

Danubius Hotels Appoints Group Director of Development

Muni Council Organizing Meeting to Improve Air Quality City

Muni Council Organizing Meeting to Improve Air Quality

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.