Orange Backs Guidance After Revenue, Earnings Match Views

By Adria Calatayud

Orange confirmed its 2023 outlook after it reported revenue and earnings for the third quarter that rose slightly and were broadly in line with consensus expectations.

The French telecommunications group said Tuesday that revenue for the quarter was 11.00 billion euros ($11.74 billion), up 1.6% on year. Growth in the company's retail operations offset a decline in wholesale revenue, Orange said.

The company's earnings before interest, taxes, depreciation and amortization after leases came in 0.4% higher at EUR3.60 billion. Orange said Ebitda after leases grew 1.4% on a comparable basis, accelerating from 1% in the second quarter, which it attributed to cost savings.

Analysts expected the company to report quarterly Ebitda after leases of EUR3.59 billion on revenue of EUR11.00 billion, according to consensus estimates provided by Orange.

Orange confirmed its 2023 outlook, which contemplates Ebitda after leases growing slightly and a significant reduction in capital expenditure among other targets.

Write to Adria Calatayud at [e-mail]

(END) Dow Jones Newswires

October 24, 2023 01:47 ET (05:47 GMT)

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