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Telecoms company Orange’s Q3 core profits fall 0.7% on lower co-investment deals -Breaking

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© Reuters.

PARIS (Reuters – Orange, France’s most important telecoms operator, reported a 0.7% drop in core operating profits for the third quarter compared with a previous year, due to a decrease in revenue from its lucrative coinvestment deals.

Earnings before interest taxes, depreciation, amortization, and amortisation following leases fell to 3.55 Billion Euros ($4.13 Billion) despite a growth in customers in France, Spain and Germany, which are its largest markets.

The average company poll forecast showed that this result was in line with the actual results. Sales fell 0.4% to 10.5 Billion Euros during the same period.

Orange has confirmed its full year targets. These include a slightly lower core operating profit, and an over 2.2 million euro underlying cash flow from telecom operations.

($1 = 0.8593 euros)

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