Latest reports from Norwegian telecom provider, Telenor Group(OSE: TEL)brings in astonishment for analysts with its higher-than-expected net profit in 1Q – reason behind is its emerging growth scale on market platform.
UPDATE: Sales in Malaysia fell 11% in the first three months of this year. Moreover in Norway, revenue marked bearish imprints due toshrinking handset sales alongside lesser fixed revenue.
As per report estimates, TEL’s net profit hiked worth 11% to $522 million (rising from 3.85 billion Norwegian kroner to 4.26 billion kroner). The telecom company showed an estimate worth 33.01 billion kroner in its revenue rate– bullish from last year’s 31.45 billion kroner.
[In accord with forecast laid by FactSet analysts, the revenue and net profit could have been 33.17 billion kroner and 3.29 billion kroner, respectively]
Adjusted earnings before interest, taxes, depreciation and amortization hiked by 8.2% to $1.4 billion (11.7 billion kroner) – However, the analysts had predicted 11.1 billion kroner on average.
As for Ebitda company looks onto receive a margin worth 33% -34% along with an organic sales growth of 2% – 4% in year 2016.
Exclusive data obtained from Bloomberg today reports TELshares to have plunged by 8.6% this year, giving company amarket fixof 204 billion kroner.
INSIGHT: Telenor claims to have added upto 5.4 million subscribers to its network; amid which 2.2 million users are from Pakistan, 1.8 million users from Myanmar and 1.5 million users from India.
Last month, TELintroduced Face at Work in its organization, hence becoming first global telecom company to have had launched*Facebook at Work.
(*Facebook at Work is introduced to be used within offices and companies as enterprise-based version of Facebook)