TeliaSonera Posts Drop In Q1 Net Profit

Swedish telecom operator TeliaSonera AB TLSNY reported a decline in its first quarter net profit. TeliaSonera's quarterly revenue rose to SEK25.69 billion, from SEK24.84 billion, in the year-ago period. Its net profit dropped to SEK3.91 billion, from SEK4.65 billion. However, analysts were expecting a net profit of SEK4.17 billion on net sales of SEK25.51 billion. TeliaSonera's quarterly EBITDA fell to SEK8.82 billion, from SEK8.89 billion, versus analysts' estimates of SEK8.96 billion. TeliaSonera's shares closed at $12.59 yesterday.