Telecommunications company TeliaSonera says 2Q profit rose 7.8 percent, keeps outlook

Nordic telecommunications operator TeliaSonera AB reported a 7.8 percent rise in second-quarter net profits Thursday, mainly thanks to stronger revenues and margin improvements. The Stockholm-based company also reiterated its forecast for 2008, saying sales were expected to continue to show stable growth compared with 2007. TeliaSonera's net profit in the quarter edged up to 4.1 billion kronor (US$680 million), rising from 3.8 billion kronor in the same three months a year ago. Second-quarter sales shot up to 25.3 billion kronor (US$4.2 billion), an increase from 23.9 billion kronor in the same three-month period in 2007. CEO Lars Nyberg called the results "satisfactory," noting that "the overall market trends were essentially unchanged" in the period. Today in Business with... [read full story]