Telia tops Q2 core profit forecast as ad sales recover

Swedish telecom operator Telia beat second-quarter core profit expectations on Thursday and said its TV and Media unit, which has been hit by clients’ lower advertising spending, returned to sales growth and positive core profit in the period.

Telia’s adjusted earnings before interest, tax, depreciation and amortization (EBITDA) rose 6.4% to 7.86 billion Swedish crowns ($745 million) in the April to June quarter. Analysts had expected 7.75 billion on average in a company-provided poll.