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Telenor raises revenue outlook based on Asian markets growth
- Tuesday | 20th July, 2021
STOCKHOLM/OSLO (Reuters) -Telenor raised its full-year revenue outlook on Tuesday, despite the Norwegian telecoms operator posting weaker-than-expected quarterly earnings on the negative impact of currency effects. Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for April-June slumped to 12.35 billion Norwegian crowns ($1.38 billion), from 13.18 billion crowns a year earlier. “Telenor returned to growth in the second quarter. Telenor said negative currency effects, however, offset an underlying improvement by decreasing its EBITDA by 1.6 billion crowns. The company, which plans to sell its Myanmar telecom assets, now expects organic subscription and traffic revenue growth of 0-1% and organic EBITDA growth of 0-2%, up from a previous forecast of maintaining the 2020 level.
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