January 29, 2020 / 6:28 AM / 25 days ago

Telia fourth quarter core profit tops forecast

STOCKHOLM (Reuters) - Swedish telecoms operator Telia (TELIA.ST) reported quarterly core earnings above market expectations on Wednesday and forecast profits would grow further this year.

The company’s fourth-quarter adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) was 7.91 billion Swedish crowns (633.67 million pounds), up from 6.68 billion crowns a year earlier and above the 7.76 billion mean analyst forecast in a Refinitiv poll.

The company said it expected adjusted EBITDA to grow 2-5% in 2020.

Reporting by Johannes Hellstrom; editing by Niklas Pollard

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