S&P 500 2,441.20 17.28
Gold$1,224.80 $5.30
Nasdaq 6,253.81 61.92
Crude Oil $60,490.00      $-1570.00
Market Update

Telefonica Net Loss Narrows, Inmarsat Swung to Profit


Author: Sarla Buch
ticker.com
Last Update: 12:30 PM EDT May 02 2018

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.

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.

  1
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc