South Africa telco MTN’s Q1 core earnings rises 27.9%

JOHANNESBURG: South Africa’s MTN said on Tuesday its core earnings jumped 27.9% in the first quarter, outpacing revenue growth as tighter cost control and strong performances in Nigeria and Ghana boosted profit.

Africa’s biggest telecom operator, which ‌has more ⁠than ⁠310 million customers in 16 markets across the continent, said its earnings before interest, tax, depreciation and amortisation (EBITDA) for the three months ended March 31 rose to 27.6 billion rand ($1.67 billion) in constant currency.