Chorus beats first-half profit expectations, lifts annual guidance

Sun, 19 Feb 2017

By Paul McBeth Feb. 20 (BusinessDesk) - Chorus beat first-half profit expectations and raised its forecast for annual earnings as the telecommunications network operator benefited from the increase in regulated prices on its copper lines, even as connection numbers fell in an increasingly competitive environment. Net profit rose to $66 million, or 14 cents per share, in the six months ended Dec. 31 from $33 million, or 7 cents, a year earlier, the Wellington-based company said in a statement. Revenue rose 10 percent to $529 million, whil...

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