Telia Q2 Profit Dips; Backs Outlook

TeliaSonera (TLSNY.PK), Swedish telecom firm, on Wednesday posted a significant decline in its earnings for the second quarter. However, the company reported a rise in revenues for the period. In addition, Telia has reiterated its guidance for the fiscal 2022.

For the quarter ended in June, the firm reported a net total income of SEK 1.68 billion, compared with SEK 8.07 billion posted last year.

Adjusted EBITDA was at SEK 7.68 billion, higher than SEK 7.65 billion, year-over-year basis.

Telia's net sales rose to SEK 22.29 billion, compared with SEK 21.87 billion with a like for like net sales increase of 2.2 percent.

For the six-month period to June, adjusted EBITDA moved up to SEK 14.88 billion, from SEK 14.83 billion of 2021.

For the first half, net sales were at SEK 44.11 billion as against SEK 43.69 billion with a like for like net sales increase of 2.1 percent.

Looking ahead, for the fiscal 2022, the company reiterated the guidance saying, "Service revenues and adjusted EBITDA, like for like, are estimated to grow by low single digit. Cash CAPEX, excluding fees for licenses and spectrum, is estimated to be in the range of SEK 14.0 billion - SEK 15.0 billion."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Omnichannel retailer Macy's, Inc. announced Monday plans to hire colleagues for more than 41,000 full- and part-time seasonal positions for the upcoming holiday season. The colleagues will be positioned at its Macy's, Bloomingdale's and Bluemercury stores, supply chain locations and call centers. Seffner, Florida -based Canyon Furniture Co. is recalling ladders sold with bunk bed and hutch sets citing entrapment and strangulation risks, the U.S. Consumer Product Safety Commission said. The about 2,100 units of Canyon Lake and Cottage Colors Bunk Bed and Hutch Sets were sold exclusively at Rooms To Go. Lyft announced the expansion to its partnership with Indeed in Jobs Access program. The ride-hailing company will be providing transportation access for Indeed's Ready to Work program. Indeed's Ready to Work program is a series of free virtual and in-person events for job seekers in several cities across the U.S. from September 15 to October 8, 2022.
Follow RTT