Telenor 2Q report shows year-on-year earnings drop

23 Jul 2008

Norwegian telecoms company Telenor has reported its financial results for the second quarter ended 30 June 2008, revealing a 1.5% fall in earnings against the same period last year. Earnings before interest, tax, depreciation and amortisation (EBITDA) was reported as NOK7.21 billion (USD1.43 billion), down from NOK7.32 billion in the same period of 2007. Revenues for the company climbed 2.9% year-on-year, to NOK23.84 billion, with Telenor citing subscription growth in its Asian operations as one of the main factors. Across the group’s operations the company claimed 153 million wireless subscribers at the end of June, up from 147 million in March.

Norway, Telenor Group