FORNEBU (dpa-AFX) - Telenor ASA (TEL.OL), a Nordic telecom company, Wednesday reported higher earnings for the third quarter compared to the same period last year. However, revenue declined by 2.9 percent.
Further, the company confirmed its outlook for fiscal 2026.
Quarterly earnings jumped 225.2 percent to NOK 9.845 billion or NOK 7.24 per share from NOK 3.027 billion or NOK 2.21 per share last year, on gain of NOK 6.90 billion related to the sale of Connexion.
Excluding one-time items, earnings increased 44.1 percent to NOK 3.68 billion or NOK 2.7 per share from NOK 2.55 billion or NOK 1.87 per share previous year, driven by favorable income tax effects, higher contribution from CelcomDigi and increased financial income.
Nonetheless, revenue decreased to NOK 18.6 billion from NOK 19.15 billion prior year.
Looking forward to the full year the company continues to expect flat to slightly negative organic growth in adjusted EBITDA.
On Tuesday, shares closed at NOK 127.70, up 1.03% on the Oslo Stock Exchange.
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