TeliaSonera grows profits in 2Q

TeliaSonera enjoyed a bumper 2Q10, beating analyst’s forecasts with increased profits and subscriber numbers as the economic conditions of key markets improved.

 

Net income of 5.2 billion Swedish Kroner (€546 million) was up from 4.4 billion Kronor in 2Q09, on the back of higher sales in Eurasia markets and a 2.5 million increase in subscriber numbers that left the firm with a total of 152.4 million customers by June 30.

 

Sales fell a marginal 1.7% to 26.9 billion Kronor during 2Q10, which the firm blamed on currency fluctuations and lower income from associated companies.

 

Analysts predicted sales would fall to 26.8 billion Kroner, WSJ.com reports.

 

EBITDA increased 1.9% to 9.2 billion Kronor, and margins were up from 33% in 2Q09 to 34.2% in the recent quarter.

 

First half profits grew just over 1 billion Kronor to 9.9 billion, and net sales fell 2.8% at 53 billion Kronor.