Telenor beats consensus on Q3 adjusted EBITDA and keeps full-year outlook

what happened

Norwegian telecom operator Telenor ASA said its third-quarter adjusted EBITDA came in at NOK 8.8 billion, above the company-compiled consensus of NOK 8,603 million. Service revenue reached NOK 14,800 million, and total revenue was NOK 18,593 million against an expected NOK 18,386 million. The company reaffirmed its full-year outlook and left its longer-term ambitions unchanged.

During the quarter Telenor reorganised the business, introduced a leaner organisation and set up a new group leadership team. According to the company, simplifying the structure will deliver around NOK 0.4 billion in total cost savings, part of which is already realised in its Asian operations, with the remaining NOK 0.3 billion phased in during the first half of 2027.

why it matters

Results ahead of forecasts and an unchanged full-year plan typically support interest in telecom operator shares. Cost savings matter to investors tracking margins, although NOK 0.4 billion is modest relative to the group's revenue base.

market impact

Telenor shares: results above expectations and a confirmed outlook support the stock

• ▲Telenor shares pressure up — adjusted EBITDA beat consensus and the full-year outlook was reaffirmed

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