Tele2 Posts Downbeat Q1 Profit

Swedish telecom operator Tele2 AB

posted a downbeat first-quarter net profit. Tele2's quarterly net profit dropped to SEK869 million, versus SEK1.23 billion, against analysts' estimates for SEK1.10 billion. However, its EBITDA climbed to SEK2.57 billion from SEK2.54 billion, versus analysts' expectations for SEK2.68 billion. Tele2's EBIT declined to SEK1.38 billion from SEK1.67 billion. Its net sales surged to SEK10.48 billion from SEK9.64 billion. Tele2 shares closed at $9.87 yesterday.