Orange Q3 boosted by strong Africa, Middle East performance

(Reuters) -Orange on Thursday reported third-quarter profit that was slightly ahead of market expectations, driven by a strong performance at its Africa and Middle East business.

Group revenue rose by 1.6% compared with the third quarter of 2023. Africa & Middle East was the main contributor, growing by 10.5%.

The French telecom operator posted earnings before interest, taxes, depreciation and amortization after leases (EBITDAaL), excluding Spain, of 3.35 billion euros ($3.61 billion). That was slightly above the 3.34 billion forecast by analysts in a company-compiled consensus.

Orange, market leader in France, gained a net 83,000 mobile customers during the quarter, winning 6,000 customers for fixed broadband and 259,000 for fiber.

The company confirmed its 2024 full-year outlook.

($1 = 0.9267 euros)

(Reporting by Leo Marchandon and Michal Aleksandrowicz)