Tele2 has seen sales rise in the third quarter despite a fall in overall subscriber numbers.
Group revenues grew one percent year-on-year to SEK 6.6 billion (€718 million), which the operator put down to its ability to better monetise mobile data usage.
Mobile service revenues were up eight percent across the board to SEK 3.2 billion (€348 million).
Overall sales in Sweden rose 1.4 percent to SEK 3.1 billion (€337 million), which it credited to strong demand for mobile data as well as increased uptake of cloud PBX services by enterprise customers.
But in the Netherlands, the operator’s second major market, revenues declined seven percent despite the mobile customer base growing by 23,000 to 791,000.
There were also revenue falls in Austria, Estonia, Germany and Latvia.
Kazakhstan provided better news, as revenues rose 10 percent thanks to service revenue increasing by seven percent, despite a devaluation of the local currency.
Across the board, customer numbers fell to 13.6 million, down from 14.1 million this time last year.
The company returned to profit to the tune of SEK 623 million (€67.8 million) after making a loss of SEK 171 million (18.6 million) this time last year.
Group CAPEX increased by 23.5 percent following network expansion in Sweden, the Netherlands and Kazakhstan to reach SEK 861 million (€93.7 million).
Meanwhile, net debt increased seven percent to SEK 8.9 billion (€969 million).
Tele2 CEO Mats Granryd said: “Q3 2014 was a high quality quarter with strong results across the board, resulting from our ability to monetise a great customer experience from our excellent mobile network. Our persistent focus on LTE/4G is now paying off, with strong top and bottom line progress in the quarter. This trend has been very clear in Sweden, and is now also apparent in other parts of our footprint."