By Ian Walker
Royal KPN NV on Wednesday reported a 77% fall in second-quarter net income, but still beating market forecasts, and raised its full-year guidance.
The Dutch telecommunications company made a quarterly net profit of 186 million euros ($188.2 million), compared with EUR800 million a year earlier and a company-compiled consensus of EUR161 million.
KPN’s adjusted earnings before interest, taxes, depreciation and amortization, after leases–the company’s preferred metric that strips out exceptional and other one-off items–rose to EUR595 million from EUR589 million, it said.
The company now expects to report adjusted Ebitda after leases of more than EUR2.40 billion. It had previously expected this metric to be around EUR2.40 billion.
Adjusted revenue for the quarter rose to EUR1.31 billion from EUR1.30 billion a year earlier.
Analysts had expected KPN to report adjusted Ebitda after leases of EUR603 million and adjusted revenue of EUR1.30 billion, according to consensus estimates provided by the company.
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Credit: www.marketwatch.com /