Telenor: stock down after mixed results

(CercleFinance.com) - The Norwegian mobile operator Telenor fell heavily on the Oslo stock exchange on Tuesday following a quarterly publication that was judged to be mixed.


The telecoms group reported Q2 revenues that rose 2.2% organically, to 28 billion Norwegian kronor, including organic growth of 1.5% in services.

Ebitda before exceptional items for April to June rose by 1.2% to 12.5 billion Norwegian kronor, including a 0.3% increase in organic terms.

While this performance was better than the market expected, analysts pointed to a mixed publication, marked by strength in its Nordic business but also by recurring weakness in Asian markets.

Listed on the Oslo Stock Exchange, Telenor shares fell by over 5% in the wake of this publication.



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