11564
Telecom Sales Drop
World Economy

Telecom Sales Drop

Telecom Italia SpA, the country’s largest phone company, slowed its pace of revenue decline last quarter and reported net debt that beat analysts’ estimates, Bloomberg reported. Fourth-quarter sales dropped 4.1% to 5.6b euros ($6.4b), the Milan-based company said in a statement Friday. That compared with a 9.1% decrease reported for the first nine months. Earnings before interest taxes, depreciation and amortization fell 8.4% to 2.2b euros, in line with analysts’ estimates. Chief Executive Officer Marco Patuano, seeking to lift Telecom Italia out of junk status, has sold assets to cut its net debt, which stood at 26.7b euros at the end of last year, almost half a billion euros less than what analysts had projected.

Short URL : http://goo.gl/AO6Uks

You can also read ...

Cyber threats are ever-evolving.
The White House released a report that found that the economic...
Global Investors Target Zimbabwe Energy Sector
Zimbabwe has become a magnet for billionaire global firms such...
BSP said the planned RRR cuts are part of the bank’s financial market reforms.
The Bangko Sentral ng Pilipinas said it was reducing banks’...
FAO regional representative Julio Berdegue (R), and the deputy regional representative Eve Crowley.
Identifying territories where rural poverty is most entrenched...
Asean Labor Flows Hit a Wall
Tighter restrictions on foreign labor in Malaysia and Thailand...
Lagarde Backs Creation of European Monetary Fund
International Monetary Fund chief Christine Lagarde has no...
The country’s GDP grew by 3.2% in 2017 but will  edge down in the coming years.
A report by the International Monetary Fund showed Sunday that...
Baby-boomers will start turning 75 or older in 2022, which is expected to trigger a surge in health care and nursing care costs.
Amid stalling inflation and ballooning government spending,...

Trending

Googleplus