Norwegian telecoms company Telenor reported second-quarter profit that came in higher than estimates, and restated its guidance, although it will try to rein in rising costs in the second half of the year.
Adjusted EBITDA in the April-June period rose 1.2% year-on-year to 12.6 billion kroner ($1.24 billion), while analysts expected 12 billion kroner.
The company stressed that it observes uncertainty in relation to high inflation and high energy prices.
“In the second quarter, we implemented initiatives, both in revenue and EBITDA, that are expected to contribute to performance in the second half of the year,” the company said in a statement.
The Telenor group, with 175 million subscribers, derives about half of its revenue from Asia and the rest from the Nordic countries.
Source: Capital
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