Daily Management Review

Net profit of Telenor increased 1.9 times in the first half of 2018


The net profit of the Norwegian telecom giant Telenor in the first half of 2018 increased 1.9 times year-on-year, reaching NOK 7.642 billion ($ 943 million), the company said in a statement.

The diluted earnings per share of the holding increased to 5.15 kroner ($ 0.6) from 2.67 kroner ($ 0.3) for the first six months of 2017. Revenue for the reporting period decreased by 2.3% to 54.653 billion kroner ($ 6.7 billion).

In the second quarter, net profit of Telenor was 2.628 billion kroner ($ 324.4 million) against a loss of 167 million kroner ($ 20.6 million). Diluted earnings per share for the second quarter amounted to 1.79 kroner ($ 0.22) compared to a loss of 0.11 kroner ($ 0.01) in the same period a year earlier. Revenues for the reporting period decreased by 3% and amounted to 27.503 billion kroner (about $ 3.4 billion).

The main growth indicators were recorded in Scandinavia. So, the revenue in Sweden and Norway for six months increased by 0.7%. The largest revenue decline for the reporting period was observed in Pakistan and Bangladesh - by 10.7% and 9.7% respectively. Telenor notes that as of the end of the first half of the year, the holding's total client base is 172 million people.

"Telenor continues to attract customers and shows high efficiency in the first half of 2018. In the second quarter we saw good operating results in Scandinavia, especially in the mobile market in Norway," the president and CEO Sigve Brekke said in a release.

Telenor operates in the telecommunications markets of Scandinavia, Central and Eastern Europe, and Asia.

source: bloomberg.com

Science & Technology

Airbus: Passenger hybrid aircraft to take off before 2035

Ocado To Introduce ‘Mini Robotic Warehouse’ With Standard Productivity

AB InBev’s Piled Up Alcohol Is ‘Too Good to Waste’

Ericsson Mobility forecasts nearly fourfold increase in mobile traffic by 2025

Elon Musk: We received 146,000 orders for Cybertruck

Google turns the screws on political ads

Apple to come up with AR glasses

WEF: Big data regulation becomes a problem

Israeli Firm Accused Of Spying By WhatsApp, Lawsuit Filed Against It

Google Used Quantum Computer To Solve Complex Problem

World Politics

World & Politics

Mexico approves amendments to NAFTA

Finnish parliament to vote for prime minister

Protests in France gain the greatest scale since 2010

Massive blackout unfolds in Venezuela

French And Russian Presidents To Discuss The Moratorium On Missiles In Europe

EU adopts budget for 2020, more funds allocated to climate change fight and innovation

Israeli prime minister indicted in three criminal cases

Argentina finds a way to pay off IMF loan