Norwegian telecom firm Telenor ASA (TELN,TELNY.PK, TELNF.PK) reported Wednesday that its second-quarter profit after tax and non-controlling interests declined to 2.32 billion Norwegian kroner or 1.54 kroner per share, from last year's 3.25 billion kroner or 2.13 kroner per share.
Adjusted operating profit increased to 5.88 billion kroner from 5.47 billion kroner last year.
Revenues for the period grew to 26.80 billion kroner from 25.75 billion kroner a year ago. Organic revenue growth was 1.6 percent.
EBITDA margin improved to 35.9 percent from 34.4 percent last year.
Jon Fredrik Baksaas, President and CEO, said, "The strong results in Norway reflect the rapid rise in customer demand for mobile data and our ability to provide relevant services supported by superior network quality and coverage. Our customers almost doubled their data usage from the second quarter last year."
Based on the strong performance so far this year and estimates for the remainder of 2014, the company now expects an EBITDA margin above last year while revenue outlook remains at low single digit organic growth.
The company was projecting a stable EBITDA margin.
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