Business
Tele2 falls after Q3 miss on rising costs in Swedish market
Tele2 falls after Q3 miss on rising costs in Swedish market
About this update from Tele2 Ab Class A
** Swedish telecoms operator Tele2's stock OMXSTO:TEL2_A falls around 5% to its lowest since July after company posted lower-than-expected Q3 results** Tele2 reported Q3 total revenue of SEK 7.4 billion ($785.94 million) vs SEK 7.43 BLN seen in company-compiled consensus; underlying EBITDAaL came in at SEK 3.1 billion vs an estimate of SEK 3.17 BLN** It lowered its full-year capital expenditure guidance to around 12% of sales from 13% previously, while reiterating its revenue and profit growth targets for 2025** J.P. Morgan attributes the core earnings miss due to higher marketing costs and network access fees in its key Swedish market, slowing organic growth there($1 = 9.4155 Swedish crowns)