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 adria.calatayud@dowjones.com
(END) Dow Jones Newswires
October 24, 2023 01:47 ET (05:47 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
After Earnings, Is Home Depot Stock a Buy, a Sell, or Fairly Valued?
-
After Earnings, Is Baidu Stock a Buy, a Sell, or Fairly Valued?
-
Why Stocks Are Hitting Record Highs—and What Could Send Them Back to Earth
-
5 Stocks to Buy While They’re Trading at Big Discounts
-
Markets Brief: Tech Stocks Lead Ahead of Nvidia Earnings
-
How Anti-Obesity Drugs Are Innovating the Healthcare Market
-
What’s Happening In the Markets This Week
-
Why Immigration Has Boosted Job Gains and the Economy
-
After Earnings, Is Walmart Stock a Buy, a Sell, or Fairly Valued?
-
Target Earnings: Margins Hold Up, but Top Line Constrained by Weak Discretionary Spending
-
Is Berkshire Hathaway’s Mystery Stock a Buy?
-
After Earnings, Is Uber Stock a Buy, a Sell, or Fairly Valued?
-
Lowe’s Earnings: Tumultuous Macro Weighs on Near-Term Results but Fails to Sway Our Long-Term View
-
Macy’s Earnings: Plan Taking Shape Despite Tough Environment
-
JPMorgan Investor Day: CEO Dimon Pushes Against More Stock Buybacks at Current Prices
-
Should You Buy and Hold an Artificial Intelligence Portfolio?