TDC A/S (OMX: TDC ), the former Danish telecom monopoly, reported quarterly earnings this Thursday. The company was satisfied with its “solid performance in a challenging market”. Markets weren’t as satisfied, TDC was down 3% on Thursday but only slightly on Friday correcting for ex-dividend.
Revenue was pretty much flat and profits up slightly compared to 2010. The company said that it endured fierce price completion in all segments, particularly in mobility services. Full year guidance is unchanged: revenue growth of 0-1% and EBITDA growth of ~2%. At current stock price, expected dividend yield for 2011 is around 10%.
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