Telefonica Net Loss Narrows, Inmarsat Swung to Profit

Sarla Buch
02 May, 2018
New York City

bet-at-home profit surged after registered customers jumped. GN Store Nord reaffirmed fiscal revenue forecast and plans to buy back share of up to 1 billion kronor. Inmarsat surged after net swung to profit. Telefonica said net loss in the first-quarter narrowed on flat revenues.

[R]4:00 PM Frankfurt – bet-at-home profit surged after registered customers jumped. GN Store Nord reaffirmed fiscal revenue forecast and plans to buy back share of up to 1 billion kronor. Inmarsat surged after net swung to profit. Telefonica said net loss in the first-quarter narrowed on flat revenues.[/R]

In London trading, FTSE 100 index increased 28.45 or 0.4% to 7,547.80 and in Frankfurt the DAX index soared 200.97 or 1.6% to 12,813.08.

In Paris, CAC 40 index rose 7.64 to 5,527.96.

bet-at-home.com AG fell 0.2% to €4.03 after Germany-based online gambling and sports betting services provider said revenues in the first-quarter ending in March declined 10.8% from a year ago to €33.2 million.

Net profit in the quarter surged 81.3% to €5.7 million from €3.2 million in a year ago period.

The online betting services provider said as of March 31, registered customers jumped 4.3% to 4.9 million and operating expense declined 12.5% to €4.9 million from a year ago period.

The online gambler forecasted fiscal 2018 betting and gaming revenues to increase to about €150 million and operating profit between €36 million and €40 million.

GN Store Nord A/S soared 7.2% to 236.90 Danish kronor after Denmark-based hearing aids and headsets maker reported revenues in the first-quarter ending in March increased 2.9% from a year ago to 1.4 billion kronor.

Net income in the quarter plunged 21.4% to 213 million kronor from 271 million kronor and diluted earnings per share slumped to 1.56 kronor from 1.91 kronor.

GN Hearing reaffirmed fiscal2018 of revenue growth of more than 6% and operating margin to soar 20%.

The hearing aids maker said its plans to buy back share of up to 1 billion kronor or $161 million.

Inmarsat Plc surged 8.7% to 393.40 pence after the U.K.-based satellite mobile, telephone and data services provider said group revenues in the first-quarter ending in March advanced 4.8% from a year ago to $345.4 million.

Net in the quarter swung to profit $53.5 million from a loss of $5.6 million in a year ago period and diluted earnings per share swung to 0.12 cents from diluted loss per share 0.01 cents.

Inmarsat forecasted fiscal 2018 revenues to grow to between $1.3 billion and $1.5 billion and capital expenditure will be in the range of $500 million to $600 million by the fiscal year 2020.

Telefonica Germany GmbH & Co gained 1.6% to €4.03 after Germany-based broadband, landline and mobile services provider reported revenues in the first-quarter ending in March were flat at €1.8 billion from a year ago.

Net loss in the quarter narrowed to €88 million from €99 million in a year ago period and diluted loss per share was flat at €0.03 from a year ago period.