Orange beats forecasts in third quarter, raises interim dividend

Started by devikad, Oct 29, 2020, 06:25 PM

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Orange beats forecasts in third quarter, raises interim dividend

Telecoms operator Orange posted on Thursday a 0.4% decline in its third-quarter core operating profit, beating market expectations thanks to continued proceeds from French peers that are co-financing its broadband fibre network.

The earnings before interest, taxes, depreciation and amortisation after leases (EBITDAaL) fell to 3.58 billion euros ($4.23 billion) over the July through Septembre period, the Paris-based company said in a statement.

This slightly beat the average of 19 analyst estimates compiled by the company, which predicted a fall of 0.6%. Quarterly sales were up by 0.8% to 10.6 billion euros, also beating the consensus.

Orange confirmed its full-year targets, including an expected drop of around 1% in core profit. It will increase its interim dividend by 10 euro cents to 40 cents and pledged to return to a dividend of 0.70 euro per share for 2020.


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