Orange Backs Guidance After Revenue, Earnings Match Views
24 October 2023 - 5:02PM
Dow Jones News
By Adria Calatayud
Orange confirmed its 2023 outlook after it reported revenue and
earnings for the third quarter that rose slightly and were broadly
in line with consensus expectations.
The French telecommunications group said Tuesday that revenue
for the quarter was 11.00 billion euros ($11.74 billion), up 1.6%
on year. Growth in the company's retail operations offset a decline
in wholesale revenue, Orange said.
The company's earnings before interest, taxes, depreciation and
amortization after leases came in 0.4% higher at EUR3.60 billion.
Orange said Ebitda after leases grew 1.4% on a comparable basis,
accelerating from 1% in the second quarter, which it attributed to
cost savings.
Analysts expected the company to report quarterly Ebitda after
leases of EUR3.59 billion on revenue of EUR11.00 billion, according
to consensus estimates provided by Orange.
Orange confirmed its 2023 outlook, which contemplates Ebitda
after leases growing slightly and a significant reduction in
capital expenditure among other targets.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
October 24, 2023 01:47 ET (05:47 GMT)
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