Norway's Telenor raises annual outlook as Asian markets expand

Telenor, which serves 170 million customers in nine countries across Europe and Asia, wrote off the value of its Myanmar operations earlier this year following a military coup, and the business is now excluded from its reporting.

STOCKHOLM/OSLO: Telenor raised its full-year revenue outlook on Tuesday, despite the Norwegian telecoms operator posting a weaker-than-expected quarterly earnings on the negative impact of currency effects.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for April-June slumped to 12.35 billion Norwegian crowns ($1.38 billion), from 13.18 billion crowns a year earlier. Analysts in a company-compiled poll, on average, had expected 12.7 billion crowns.