Bloomberg | February 8, 2011 | Diana ben-Aron
Telenor ASA, the Nordic region’s largest phone company, rose the most in two months in Oslo trading after reporting fourth-quarter earnings that beat analyst estimates.
Telenor climbed as much as 2.90 kroner, or 3.3 percent, to 91.90 kroner, the biggest intraday jump since Dec. 2. The stock traded 2.7 percent higher as of 12:34 p.m.
Earnings before interest, taxes, depreciation and amortization was 6.96 billion kroner ($1.21 billion), more than the 6.86 billion kroner average estimate of 24 analysts surveyed by Bloomberg. The company improved its margin in Norway, Thailand and Malaysia as data use on handsets increased.
Asian revenue rose 13 percent in established operations, and Telenor reported a gain of 1.3 billion kroner from its holdings in VimpelCom Ltd. The Norwegian company said it forecasts revenue growth exceeding 5 percent this year, excluding acquisitions or disposals, approximately in line with growth for last year.
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Telenor advances after earnings beat estimates on Norway, Asia
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