Orange SA reported a drop in revenue in the second quarter, indicating continued competition in Europe’s telecommunications market, which the company hopes to alleviate through a merger with Masmovill Intercom SA in Spain.
The company’s second-quarter revenue was 10.71 billion euros ($10.9 billion).
Orange confirmed its forecast for the year
Orange’s new CEO, Christel Heidemann, plans to unveil the company’s new strategic plan early next year.
“This strong performance allows us to confirm our forecasts for the current year, which is an important milestone on our way to meeting our commitments for 2023,” Heidemann said.
Following exclusive merger talks announced in March, Orange and Masmovill reached an agreement last week to merge their Spanish operations, creating a $19 billion market leader.