Telia: says third-quarter results 'encouraging'

(CercleFinance.com) - Telia shares are down over 2% on Wednesday, despite the Swedish telecom operator saying that its third quarter results were "encouraging.
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Whilst service revenues declined by 4.8% year-on-year to 18.7 billion Swedish kronor, the carrier managed to mitigate a large share of impact on earnings through cost control, it said in a statement.

Telia posted third-quarter EBITDA of 8.2 billion Swedish kronor, pretty much flat year-on-year.

The effects of the COVID-19 pandemic had an estimated 600 million kronor impact on service revenues, the company said, driven by lower roaming and advertising revenues.

For the full year 2020, the COVID-19 impact is expected to result in an adjusted EBITDA of around 30.5 billion Swedish kronor, Telia said.

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