October 24, 2018 / 5:56 AM / 22 days ago

KPN third quarter sales dip, earnings fall in line with expectations

AMSTERDAM, Oct 24 (Reuters) - KPN, the largest Dutch telecommunications company, on Wednesday reported lower third quarter core earnings, in line with expectations, as regulations and higher wage costs more than offset cost-cutting.

The company reported adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of 585 million euros ($671 million), down from 592 million euros in the same period a year ago. Analysts polled by the company had put EBITDA at 586 million euros.

Revenues of 1.40 billion euros were down 1.6 percent, in line with expectations. ($1 = 0.8722 euros) (Reporting by Toby Sterling; editing by Richard Pullin)

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