Telia: shares climb on earnings improvement

(CercleFinance.com) - Shares of Telia rose by almost 2 percent on Thursday after the Swedish telecoms operator improved its second quarter results compared to the first quarter, and forecast "continuous" improvement for the rest of the year.


Telia's adjusted EBITDA rose 16.7 percent in reported currency to 7.5 billion Swedish crowns in the past quarter, on sales that rose 2.2 percent to 21.3 billion crowns.

Excluding the impact of exchange rates, acquisitions and disposals, net sales fell by 4.2 percent though.

Telia's outlook for 2019 has been kept unchanged, with the company still expecting a stronger second half than the first half.

"This will primarily be driven by resource costs", it warned.

Yet, the announcements were taken positively by investors, and the stock gained 2% at 43.2 Swedish crowns in Stockholm at around lunch break.

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