Sweden’s Tele2 Core Profit Beats Forecast

Swedish telecom operator Tele2 posted on Wednesday a quarterly core profit above expectations and said it was on track to reach its full-year guidance.

The company reported first-quarter adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of 2.34 billion Swedish crowns ($249.9 million), up from 1.40 billion a year earlier and above the 2.26 billion crown mean forecast in a poll of analysts.

The earnings report is Tele2’s second after closing a $3.2 billion deal to buy Com Hem in November 2018, creating a bigger rival to market leader Telia.―Reuters