April 26, 2018 / 5:49 AM / a month ago

KPN beats estimates with slight rise in first-quarter core profit

AMSTERDAM (Reuters) - Dutch telecommunications company KPN (KPN.AS) on Thursday said its core profit rose 2.3 percent in the first quarter, as lower costs offset a decline in sales.

The company logo of Dutch telecoms group KPN is seen on the headquarters in the Hague February 4, 2014. REUTERS/Michael Kooren

KPN reported adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of 569 million euros (496.74 million pounds), while analysts predicted profits to fall to 543 million euros.

    Revenues dropped 3.4 percent to 1.4 billion euros, as European rules limiting roaming fees for the use of mobile phones abroad took a bite out of earnings.

    Reporting by Bart Meijer; Editing by Christian Schmollinger

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