MTN First-Half Earnings Miss Analyst Estimates on Economy
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MTN Group Ltd., Africa’s largest mobile-phone operator, reported first-half earnings that missed analysts’ estimates as increasing competition and an economic slowdown weighed on results.
Adjusted earnings per share advanced to 5.37 rand from 4.70 rand a year earlier, Johannesburg-based MTN said today in a statement. That missed the 5.91-rand median of two analysts’ estimates compiled by Bloomberg. Revenue rose to 66.4 billion rand ($8.18 billion) from 56.54 billion rand.