Putin presides over BRICS summit seeking to expand Russia's clout
EPA imposes stricter standards to protect children from exposure to lead paint
Tesla allays investor fears with crucial EV growth forecast, shares jump
Russian lawmakers ratify pact with North Korea as US confirms that Pyongyang sent troops to Russia
Middle East latest: French President Macron pledges 100 million euros in aid to support Lebanon
Singapore weighs preserving Lee Kuan Yew's home as national monument
Samuel L. Jackson lauded at MoMA film benefit by close family and friends
Ja Morant "excited to be back" after successful season debut, injury return in Grizzlies' win
By Leo Marchandon and Michal Aleksandrowicz
(Reuters) -Orange on Thursday reported third-quarter profit that was slightly ahead of market expectations, driven by a strong performance at its Africa and Middle East business, and reiterated its full-year guidance.
Group revenue, a notch above consensus, rose by 1.6% compared with the third quarter of 2023. Africa & Middle East was the main contributor, increasing by 10.5%, its sixth consecutive quarter of double-digit growth.
Revenue in France increased 1.3%.
The French telecom operator posted earnings before interest, taxes, depreciation and amortization after leases (EBITDAaL), excluding Spain, of 3.35 billion euros ($3.61 billion). That was slightly above the 3.34 billion forecast by analysts in a company-compiled consensus.
Orange, market leader in France, gained a net 83,000 mobile
customers during the quarter, winning 6,000 customers for fixed
broadband and 259,000 for fiber.
Its peers Bouygues and Iliad have introduced cheaper plans earlier this month.
The company doesn't yet have an assessment of the impact of those moves, Orange's Chief Financial Officer Laurent Martinez said during a call with reporters after the earnings were published.
In late July, Orange announced a non-binding agreement with Vodafone Spain to create a joint fibre-to-the-home(FTTH) company covering 4 million customers.
El Confidencial reported in mid-October Orange was trying to sell its stake in this project.
Martinez said the company was expecting a closing of the deal by the end of H1 2025. Orange will retain 50%, Vodafone Spain 10% and a third financial partner was still being sought for the remaining 40%, he confirmed.
($1 = 0.9267 euros)
(Reporting by Leo Marchandon and Michal Aleksandrowicz; editing by Matt Scuffham)
