Telenor cuts 2026 outlook after Q2 earnings miss
Financial Performance and Revised Outlook
Q2 Earnings Report
July 16 (Reuters) - Norway's leading telecom operator Telenor cut its 2026 outlook on Thursday after reporting weaker-than-expected second-quarter earnings, citing slower revenue growth in Norway and Finland, higher operating expenses and macroeconomic challenges in Bangladesh.
EBITDA Results and Analyst Expectations
Telenor's adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) fell 9% to 7.99 billion Norwegian crowns ($826.48 million) in the quarter. Analysts polled by Telenor had expected 8.30 billion crowns on average.
Factors Impacting Performance
Telenor said it was hit by slower-than-expected revenue growth in Norway and Finland, higher Nordic operating expenses and other effects.
Updated 2026 Outlook
It now expects flat to slightly negative organic growth in adjusted EBITDA, down from flat to low-single-digit growth, and free cash flow of around NOK 10 billion, compared with NOK 10 billion to NOK 11 billion previously.
Previous Warnings and Forecast Adjustments
In April, Telenor warned of a challenging second quarter against a strong year-earlier comparison and cut its 2026 adjusted EBITDA growth forecast to flat-to-low single digits from low-to-mid single digits.
Currency Exchange Rate
($1 = 9.6675 Norwegian crowns)
Reporting Credits
(Reporting by Agnieszka Olenska; Editing by Matt Scuffham and Bartosz Dabrowski)
