A weakened television market in Sweden hurt Telia’s revenues in the first quarter.
The telco’s total revenue increased by 5.7% on the corresponding 12 month period. At the same time revenues grew by 3.7%.
Operating profit decreased to SEK 1,887 million, compared with SEK 2,437 million in the same period last year.
Telia puts the reason for the decline down to “expected softening in TV advertising and ongoing challenges in pay-TV”.
On Tuesday, Telia confirmed it would close the pay-TV business C More this summer. Content from the former Bonnier unit will be included as part as TV4 Play. A relaunch of TV4 Play with a new “hybrid” offer will then be brought forward.