By Sven Grundberg
STOCKHOLM--Telenor ASA, the Norwegian telecom operator, reported
higher revenue in the third quarter, as it saw a boost from its
high-speed mobile data expansion in Norway and continued to pick up
customers in developing markets.
Profits, meanwhile, fell as a result of losses for Telenor's
associated companies and joint ventures. Telenor said it was
negatively impacted by investments into online classifieds ventures
with Schibsted ASA, as well as an impairment charge for Amedia AS,
a Norwegian media company.
Revenue for the operator grew to 27.69 billion Norwegian kroner
($4.19 billion) in the quarter, from NOK25.95 billion a year ago,
while net profit fell to NOK2.59 billion from NOK3.92 billion a
year ago. Telenor's earnings before interest, taxes, depreciation
and amortization was NOK10.16 billion, up from NOK9.47 billion a
year ago.
The telecom operator -- the largest in the Nordics by market
capitalization -- said it added 3.4 million new mobile subscribers
during the period, on the back of customer uptake in places such as
India, Bangladesh and Malaysia.
It maintained its full-year guidance unchanged, expecting an
Ebitda-margin above last year's level and low single digit organic
revenue growth.
Write to Sven Grundberg at sven.grundberg@wsj.com; Twitter:
@svengrundberg
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