LONON: Orange SA, the French telecommunications carrier with networks from Belgium to Botswana, reported a decline in first-quarter sales and earnings as competition in its European markets continued to weigh on prices.
Adjusted earnings before interest, taxes, depreciation and amortization fell 3.3 percent to 2.92 billion euros ($3.17 billion). Revenue dropped 1.3 percent to 9.67 billion euros.
Analysts estimated adjusted Ebitda of 2.93 billion euros on sales of 9.6 billion euros, data compiled by Bloomberg showed.
Chief Executive Officer Stephane Richard in March unveiled a 2020 plan to rekindle earnings growth with cost cuts and faster networks after years of domestic price wars.
