TELIASONERA Posts Decline In Q1 Profit

TELIASONERA ADR TLSNY reported a 5.9% decline in its net profit for the first quarter. The company's quarterly net profit slipped to SEK3.71 billion kronor ($427 million), versus a year-ago profit of SEK3.95 billion. Earnings per share dropped to 0.86 krona versus 0.91 krona. Its revenue climbed to SEK26.04 billion from SEK23.97 billion, while earnings before interest, taxes, depreciation and amortization, excluding non-recurring items, declined 4.3 percent in local currencies. In Sweden, operating income fell to SEK2.09 billion from SEK2.63 billion, while operating income in TeliaSonera's Eurasian unit gained to SEK1.90 billion from SEK1.76 billion. TELIASONERA reiterated its guidance for the full year. TELIASONERA shares gained 0.43 percent to close at $11.73 yesterday.