Orange Reports Better-Than-Expected Revenue
October 22 2015 - 2:15AM
Dow Jones News
By Nick Kostov
PARIS--Orange SA Thursday reported third-quarter revenue above
analysts' expectations as a tough price war in Europe's mobile
market showed signs of easing and revenues in its home market of
France continued to stabilize.
The former French telecom monopoly said sales for the three
months ended Sept. 30 rose 4.9% to 10.3 billion euros ($11.6
billion) in the same period a year ago. Analysts polled by FactSet
had expected the company to report sales of 10.1 billion euros.
The numbers are a further sign that Orange is steadying the ship
after a number of difficult years. The company is facing fierce
competition in many of its markets, particularly in Europe, where
telecom operators have been cutting prices for mobile and broadband
services to increase market share.
"We're seeing an improvement in almost all European markets,"
Chief Financial Officer Ramon Fernandez said. "This is due to a
number of factors including a softer impact from regulation and the
growth of high speed broadband."
Earlier this year, Orange said it would aim for sales in 2018 to
be higher than in 2014.
Write to Nick Kostov at nick.kostov@wsj.com
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(END) Dow Jones Newswires
October 22, 2015 02:00 ET (06:00 GMT)
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