Also in today's EMEA regional roundup: Nokia ticks off final regulatory approval for AlcaLu deal; ADVA hits all-time high in Q3; hard times in Saudi Arabia.
Shares in Orange (NYSE: FTE) rose more than 4% during mid-morning trading in Paris after the French incumbent raised its full-year earnings guidance on the back of an encouraging third-quarter performance. The operator now expects to generate €12.3 billion (US$13.9 billion) in EBITDA this year, compared with a previous forecast of €12.1 billion ($13.7 billion) and a figure of €12.2 billion ($13.8 billion) last year. Although third-quarter EBITDA fell by 0.4% year-on-year, to €9.4 billion ($10.6 billion), and revenues were down 0.8%, to €29.8 billion ($33.7 billion), Orange cited improvements in Europe and France, where its sales decline has continued to soften over the course of the year. Price-cutting Iliad (Euronext: ILD)'s entry into the mobile market in early 2012 has taken a heavy toll on Orange as well as rivals Numericable-SFR and Bouygues Telecom , but all three have recently expressed the belief that the worst is now behind them. (See Eurobites: Iliad Puts Pressure on French Rivals, Bouygues Chief Bitter Over Iliad's Inclusion and Altice Sees Brighter Days in 4-Player France.)
Nokia Corp. (NYSE: NOK) says it now has all the regulatory approvals it needs to go ahead with its $16.6 billion takeover of Alcatel-Lucent (NYSE: ALU), following the green light from the French Ministry of Economy (MINEFI). The vendor's next step will be to file its exchange offer for AlcaLu securities, and the proposed deal remains subject to approval by Nokia shareholders. (See Nokia & Alcatel-Lucent: What's Going On?)
Germany's ADVA Optical Networking says the demand for data center interconnect technology and 100G metro offerings helped push its third-quarter revenue to an all-time high of €122.3 million ($138.4 million), a figure which represents 40.4% year-on-year revenue growth. Net profit nearly doubled to €8.6 million ($9.7 million).
It's not easy being an operator in Saudi Arabia at the moment: As Reuters reports, both Zain KSA (Zain Saudi Arabia) and Etihad Etisalat Co. (Mobily) reported third-quarter net losses. Zain narrowed losses to 223 million riyals ($59.5 million) from SAR316 million ($84.2 million) a year earlier, but Mobily slumped from a profit of SAR129 million ($34.3 million) in the same period last year to a loss of SAR158 million ($42.1 million) this time around.
It's been a while since Angry Birds was everyone's go-to mobile phone game, and its maker, Rovio Mobile Ltd. , is feeling the pinch, having not been able to follow up the success of that hit, reports Reuters. Rovio has now announced it is cutting 213 jobs, about a third of its workforce, with most of the redundancies taking place in its native Finland.
— Paul Rainford, Assistant Editor, Europe, Light Reading