Salgsgevinst løftet Telenor-resultatet

Telenor's financial results have shown a significant boost, with earnings before tax rising to 11.17 billion kroner, up from 4.81 billion in the prior quarter. This surge in performance is primarily attributed to a substantial profit of 6.91 billion kroner from the sale of the Connexion company and the formation of a partnership with investment firm Verdane.

The company's underlying business results (EBITDA) were recorded at 8.78 billion kroner for the quarter, a slight decrease from 9.05 billion in the same period last year. Revenue stood at 18.59 billion kroner, down from 19.15 billion in the same quarter last year. Analysts anticipated revenues of 18.35 billion kroner and earnings before tax of 4.43 billion, according to Bloomberg estimates.

Telenor initiated a share buyback program in May this year, and now seeks to expedite the purchase of its own shares. With a strong financial position and manageable debt levels, the company aims to accelerate its share buyback program, targeting 15 billion kroner over two years instead of the initially planned three years, according to Telenor CEO Benedicte Schilbred Fasmer in a press release.