Orange Shares Jump as French Business Shows Signs of Improvement
- Orange shares on track for their best performance in one year
- French carrier reiterates forecast for rising 2016 earnings
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Orange SA shares rose the most in a year as the French phone company reported signs of improvement in its home market in the third quarter despite intense price competition.
Adjusted earnings before interest, taxes, depreciation and amortization rose 1.6 percent to 3.6 billion euros ($3.9 billion), Orange said in a statement Tuesday. That compared with the average analyst estimate of 3.59 billion euros. Sales climbed 7.8 percent in Spain, while revenue in France declined 0.6 percent after a 1.2 percent drop during the first six months.