April 24 (Reuters) – Swedish telecom operator Telia reported first-quarter core earnings above market expectations on Friday, driven by service revenue growth across most markets and lower operational expenses.
• Telia’s first-quarter adjusted operating profit before interest, taxes, depreciation, and amortization (EBITDA) increased 4.0%, on a like-for-like basis, to 7.94 billion Swedish crowns ($856.78 million).
• Analysts had expected an average profit of 7.84 billion crowns in a company-compiled poll.
• “Demand for Telia’s services is strong across our markets, with transformational technologies, such as AI, dependent on secure, reliable, and high-quality connectivity,” CEO Patrik Hofbauer said in a statement.
• Quarterly service revenue increased 2.1%, like-for-like, driven by continued strong development in Sweden and Lithuania.
• Telia shares are up about 3% in early Stockholm trading.
($1 = 9.2673 Swedish crowns)
(Reporting by Elviira Luoma, editing by Rashmi Aich and Jonathan Ananda)
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