Telenor Posts Higher Q1 Profit, Lifts 2015 Outlook

Telenor ASA (ADR) TELNY reported rise in its net profit for the first quarter and lifted its outlook for 2015. Telenor's quarterly net profit climbed to 4.05 billion Norwegian kroner ($535.4 million), versus a year-ago profit of NOK3.68 billion. Its revenue surged 19 percent to NOK30.21 billion from NOK25.32 billion, while organic revenue rose 7.6 percent. The company's revenue rose 6 percent in Norway. EBITDA climbed 5 percent organically during the quarter. For 2015, Telenor now projects an EBITDA margin of 34 percent to 36 percent, versus its earlier outlook of 33 percent to 35 percent. The company now expects organic revenue to rise 5 percent to 7 percent. Telenor shares fell 1.34 percent to close at $68.25 yesterday.