Telenor hikes 2024 sales forecast after in-line Q2 earnings

Norwegian telecom operator Telenor raised its 2024 sales expectations on Thursday after its second-quarter earnings met market expectations.
The company hiked its full-year forecast for Nordic service revenues to low- to mid-single-digit organic growth, compared with the previous forecast of low single-digit growth.

Earnings before interest, tax, depreciation and amortisation (EBITDA) before other items rose to 8.79 billion Norwegian crowns ($820 million) in the April to June quarter from 8.77 billion crown a year earlier, matching analysts’ expectations in a consensus poll provided by the company.

Telenor said it benefited from growth in the Nordic and Asian markets, backed by strategic investments in technology and cybersecurity.