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Telenor Q2 Profit Rises

Norwegian telecom major Telenor Group (TELNY.PK,TELN) reported that its second-quarter net income attributable to equity holders rose to 3.10 billion Norwegian kroner from 2.65 billion kroner in the prior year.

Total reported revenues were 28.0 billion kroner, an increase of 2% from last year. Subscription and traffic revenues decreased by 1% on an organic basis in the second quarter.

For 2019, the company expects subscription and traffic revenues at around the 2018 level and a low single digit EBITDA decline. Capex excluding licences and spectrum is still expected to be in the range of 16 billion kroner -17 billion kroner.

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