April 26, 2018 / 5:50 AM / 2 months ago

KPN beats estimates with slight rise in Q1 core profit

AMSTERDAM, April 26 (Reuters) - Dutch telecommunications company KPN on Thursday said its core profit rose 2.3 percent in the first quarter, as lower costs offset a decline in sales.

KPN reported adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of 569 million euros ($692.7 million), while analysts predicted profits to fall to 543 million euros.

Revenues dropped 3.4 percent to 1.4 billion euros, as European rules limiting roaming fees for the use of mobile phones abroad took a bite out of earnings. ($1 = 0.8214 euros) (Reporting by Bart Meijer; Editing by Christian Schmollinger)

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