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UPDATE 1-Elisa shares hurt by profit falling short
July 16, 2014 / 7:21 AM / in 3 years

UPDATE 1-Elisa shares hurt by profit falling short

(Adds details, shares, analyst)

HELSINKI, July 16 (Reuters) - Finnish telecoms operator Elisa’s second-quarter comparable profit rose to 127 million euros, but came in slightly below analyst expectations of 129 million, sending the firm’s shares down 2.8 percent.

In the same quarter a year ago, Elisa’s earnings before interest, tax, depreciation and amortisation (EBITDA) were 122 million euros.

Sales fell to 384 million euros from 390 million and were below average analyst expectation of 398 million, hurt by decline in fixed line use and a small decrease in the number of mobile subscriptions.

Elisa kept its guidance of full-year results to be at the same level as last year, or slightly higher. In the first six months of the year, Elisa’s profit is 21 million euros above that of the same period in 2013.

Some analysts had expected a profit guidance upgrade.

“The firm repeating its guidance can be seen as a slight disappointment,” said analysts Petri Aho and Juha Kinnunen from analyst firm Inderes said, who have a sell rating on Elisa.

Elisa shares were down 2.8 percent at 22.00 euros by 0710 GMT. (Reporting by Sakari Suoninen; Editing by William Hardy)

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