April 24, 2019 / 5:18 AM / 7 months ago

Sweden's Tele2 core profit beats forecast

STOCKHOLM, April 24 (Reuters) - Swedish telecom operator Tele2 posted on Wednesday a quarterly core profit above expectations and said it was on track to reach its full-year guidance.

The company reported first-quarter adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of 2.34 billion Swedish crowns ($249.9 million), up from 1.40 billion a year earlier and above the 2.26 billion crown mean forecast in a poll of analysts.

The earnings report is Tele2’s second after closing a $3.2 billion deal to buy Com Hem in November 2018, creating a bigger rival to market leader Telia. ($1 = 9.3634 Swedish crowns) (Reporting by Helena Soderpalm; editing by Niklas Pollard)

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