Telenor Q4 profit misses, takes big Danish charge
OSLO Feb 13 (Reuters) - Mobile telecoms firm Telenor reported fourth-quarter earnings slightly behind expectations on Wednesday and took a large impairment charge related to its Danish operations, it said.
Telenor's fourth quarter operating profit rose to 4.498 billion Norwegian crowns ($819.73 million) from 3.533 billion a year earlier but came behind analysts' expectation for 4.597 billion crowns.
Dragging its bottom line lower, the firm also took a 4 billion crown impairment related to its Danish operations as its reassessed the value of the subsidiary in light of fierce competition, lower revenues and weaker margins. ($1 = 5.4872 Norwegian krones) (Reporting by Balazs Koranyi)
- Tweet this
- Share this
- Digg this