UPDATE 1-Telia Q1 core profit just lags forecast as TV unit weighs [Reuters]
TELIA COMPANY AB UNSP/ADR (TLSNY)
NASDAQ:AMEX Investor Relations:
teliacompany.com/en/investors
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Source: Reuters
UPDATE 1-Telia Q1 core profit just lags forecast as TV unit weighs (Adds CEO comment, background, detail) STOCKHOLM, April 22 (Reuters) - Swedish telecom operator Telia Company reported quarterly core earnings below market forecasts on Wednesday as weakness in its TV & Media unit hit results, but said it had seen limited impact on its other businesses so far from the COVID-19 crisis. The company, which had said in March it no longer expected to reach its 2020 earnings and cashflow forecast due to the TV & Media business being hit due to the pandemic, cited lower advertising revenues and lack of sports broadcasting as key negatives. First-quarter adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) was 7.28 billion crowns ($720 million), down from 7.41 billion crowns a year earlier and just below the 7.51 billion mean analyst forecast in a Refinitiv poll. Telia said it expected to generate an operational free cashflow of 9.5-10.5 billion crowns for the year, d
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