Telenor Posts Downbeat Q2 Profit

Telenor ASA TELNY reported a weaker-than-expected second-quarter operating profit. Telenor's quarterly earnings before interest, taxes, depreciation and amortization (EBITDA) climbed to 7.84 billion Norwegian kroner ($1.29 billion), versus NOK7.24 billion in the year-ago period, down from analysts' estimates of NOK8.14 billion. Telenor shares closed at $47.89 yesterday.