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Norway's Telenor Q3 service revenue rises, maintains 2026 forecast

By Reuters News


Overview

  • Norway telecom operator's Q3 service revenue grew 1.6% yr/yr to NOK 14.8 bln

  • Adjusted EBITDA rose 1.5% yr/yr; adjusted EPS up 45% to NOK 2.70

  • Company expanded Nordic broadband and defence presence with Bahnhof acquisition and KNL defence agreement


Outlook

  • Telenor reaffirms full-year outlook and longer-term ambitions remain unchanged

  • Group expects flat to slightly negative organic growth in adjusted EBITDA

  • Company sees free cash flow before M&A of around NOK 10 bln for 2026


Result Drivers

  • COST MANAGEMENT - Co said disciplined cost management supported quarter-on-quarter improvement in Norway and maintained profitability in Asia

  • CUSTOMER GROWTH - Sweden added 35,000 new mobile customers in Q3, marking its 15th consecutive quarter of EBITDA growth

  • DEFENCE & BROADBAND EXPANSION - Co expanded Nordic defence and broadband presence with KNL defence agreement and Bahnhof acquisition


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Service Revenue

NOK 14.80 bln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 11 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the wireless telecommunications services peer group is "buy"

  • Wall Street's median 12-month price target for Telenor ASA is NOK150.00, about 17.5% above its October 27 closing price of NOK127.70

  • The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 14 three months ago


Reuters Recommended Reads

  • Oct 27 - Telecoms group Orange Q3 revenue rises 3.6%

  • Oct 26 - Verizon Q3 profit beats; raises 2026 postpaid phone net adds forecast

  • Oct 26 - Trading platform Plus500 Q3 revenue rises on customer growth


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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