Orange profit drops 3.2%

Orange's (ORAN) Q1 EBITDA dropped to €3.02B from €3.12B but met consensus.

Revenue fell 4.6% to a slightly less-than-expected €9.8B as the price war in France continued to hurt results, although the rate of decline in Orange's home market slowed.

Orange maintained its FY profit targets.

Shares are +4.2% in Paris. (PR)

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