By Elviira Luoma
(Reuters) -Norwegian telecom operator Telenor reported first-quarter core operating earnings slightly below analysts’ estimates on Tuesday but said it had continued to grow service revenues above inflation on an organic basis in the Nordics.
The company also said it sees no direct impact from U.S. tariffs, adding that in general, the telecom sector tends to be more resilient to global turbulence.
“So far, our business is not directly affected, but we monitor how this uncertainty may affect us as well as our customers, operationally and financially,” CEO Benedicte Schilbred Fasmer said in a statement.
Telenor shares were up 0.1% in early trade.
In the Nordics, organic service revenue growth of 2.3% in the quarter to 11.35 billion Norwegian crowns ($1.09 billion) was driven by the mobile segment, Telenor said in a statement.
The group’s earnings before interest, tax, depreciation and amortisation (EBITDA) before other items rose to 8.64 billion Norwegian crowns in the January-March quarter from 8.51 billion a year earlier.
Analysts, on average, had expected profit of 8.67 billion crowns in a company-compiled poll.
The organic growth in adjusted EBITDA was 2.0%, the company said, with changed economic conditions in Bangladesh continuing to impact a year-on-year growth metrics.
“In Asia, we were encouraged by Grameenphone’s quarter-on-quarter improvement, although it is premature to determine if this represents a trend,” Schilbred Fasmer said.
Telenor Pakistan performed strongly, supported by team efforts, lower inflation and a rational local market, the company said.
($1 = 10.3744 Norwegian crowns)
(Reporting by Elviira Luoma; Editing by Nivedita Bhattacharjee)
