The Nordic and Baltic telecom and TV provider Telia Company announced a 6.3% drop in quarterly advertising income, which it attributed to the unfavourable state of the market.
Telia, a Swedish telecom company, continues to witness a drop in its advertising sales as it posted first-quarter core results on Thursday that were marginally below market forecasts. don’t miss:- The Challenges of Renewable Energy on World Earth Day 2024
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During the January–March quarter, its adjusted profits before interest, tax, depreciation, and amortization (EBITDA) increased by 3.4% to 7.14 billion Swedish crowns ($656.90 million), compared to the average estimate of 7.24 billion among analysts surveyed by LSEG.
The Nordic and Baltic telecom and TV provider company announced a 6.3% drop in quarterly advertising income, which it attributed to the unfavourable state of the market.
CEO Patrik Hofbauer stated in a statement, “However the decline was lower than in previous quarters and the majority of it was offset by 5.2% growth in pay TV revenue.”
Telia Company AB (publ) (OTCMKTS: TLSNY) Share Price Passes Below Two Hundred Day Moving Average of $4.78
During Thursday’s trade, the share price of Company AB (publ) (OTCMKTS: TLSNY – Get Free Report) crossed below its 200-day moving average. The stock dropped as low as $4.57 and has a 200-day moving average of $4.78. 29,391 shares were traded in a volume of $4.72 for Company AB (publ).
Telia Company AB (publ) Stock Down 4.8 %
With a market valuation of $9.28 billion, the company exhibits a price-to-earnings ratio of 236.00 and a beta value of 0.41. The company’s current ratio is 0.99, its quick ratio is 0.95, and its debt-to-equity ratio is 1.73. The 200-day simple moving average for the company is $4.78, while the 50-day simple moving average is $4.84.
The most recent earnings results for Company AB (publ) (OTCMKTS: TLSNY – Get Free Report) were released on Friday, January 26. The technology company’s quarterly EPS was recorded as $0.16. During the quarter, the company brought in $2.17 billion in sales. Company AB (publ) had a net margin of 0.32% and a negative return on equity of 0.51%. Sell-side analysts predict Company AB to report 0.29 EPS on average for the current fiscal year.
Telia Company AB (publ) Cuts Dividend
Additionally, the company has declared that a dividend will be paid out on Thursday, May 2. Shareholders who were registered on Friday, April 12th will get a dividend of $0.0963. Thursday, April 11th, is the ex-dividend date. At now, Company AB (publ) has a payout ratio of 1,050.00%.
About Telia Company AB (publ)
Businesses, people, families, and communities throughout Sweden, Finland, Norway, Denmark, Lithuania, Estonia, and Latvia may all benefit from the communication services offered by Company AB (publ). In addition to networking, cloud and security, mobility, enterprise mobile network, contact centre, managed mobility services, Internet of Things (IoT), carrier ethernet, dedicated internet access, wavelengths, IP Transit, dark fibre, and colocation solutions, it provides mobile, broadband, television, and fixed-line services.
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