Orange beats forecasts in third quarter, raises interim dividend
Reuters
Published Oct 29, 2020 06:40
PARIS (Reuters) - Telecoms operator Orange (PA:ORAN) posted on Thursday a 0.4% decline in its third-quarter core operating profit, beating market expectations thanks to continued proceeds from French peers that are co-financing its broadband fibre network.
The earnings before interest, taxes, depreciation and amortisation after leases (EBITDAaL) fell to 3.58 billion euros (3.3 billion pounds) over the July through Septembre period, the Paris-based company said in a statement.
This slightly beat the average of 19 analyst estimates compiled by the company, which predicted a fall of 0.6%. Quarterly sales were up by 0.8% to 10.6 billion euros, also beating the consensus.
Orange confirmed its full-year targets, including an expected drop of around 1% in core profit. It will increase its interim dividend by 10 euro cents to 40 cents and pledged to return to a dividend of 0.70 euro per share for 2020.
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Written By: Reuters
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