PARIS: Telecoms operator Orange 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 ($4.23 billion) 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.
($1 = 0.8461 euros)
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