(Reuters) -Swedish telecom operator Telia reported third-quarter core earnings slightly above market expectations on Thursday, driven by profitable service revenue growth and lower operational expenses across most of its markets.
The group’s quarterly adjusted operating profit before depreciation and amortisation (EBITDA) rose 4.4% on a like-for-like basis to 8.46 billion Swedish crowns ($898.52 million), slightly higher than analysts’ average forecast of 8.45 billion crowns in a poll provided by Telia.
Service revenue increased 1.0% like-for-like driven by continued strong momentum in Sweden and the Baltics, the company said.
The company upgraded its free cash flow outlook to around 8 billion crowns for the year, from around 7.5 billion crowns previously.
Telia also said that it expec