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Telia Q1 core profit just lags forecast

STOCKHOLM, April 22 (Reuters) - Swedish telecom operator Telia Company reported quarterly core earnings below market forecasts on Wednesday as weakness in its TV & Media unit hit results, but said it had seen limited impact on its other businesses so far from the COVID-19 crisis.

Telia said first-quarter adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) was 7.28 billion Swedish crowns ($720 million), down from 7.41 billion crowns a year earlier and just below the 7.51 billion mean analyst forecast in a Refinitiv poll.

The company had said in March it no longer expected to reach its 2020 core earnings and cashflow forecast due to effects of the COVID-19 pandemic hitting the group’s TV & Media unit. ($1 = 10.1077 Swedish crowns) (Reporting by Johannes Hellstrom)

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