Telecom Italia's 1st Half Net Profit Reaches 1 Billion Euros
July 26 2016 - 2:26PM
Dow Jones News
By Manuela Mesco
MILAN--Telecom Italia said Tuesday its first-half net profit
reached 1 billion euros ($1.1 billion) as the company benefited
from the effects of a convertible bond issued in 2013.
Telecom Italia, the largest Italian telecom operator, said that
without such accounting effects, net profit would be almost flat on
the year.
Revenue was down 9.9% on the year, the company also said, as its
Brazilian business heavily weighed on its overall performance.
Revenue was EUR9.1 billion, while earnings before interest, tax,
depreciation and amortization was up 2.4%, at EUR3.7 billion.
Write to Manuela Mesco at Manuela.Mesco@wsj.com
(END) Dow Jones Newswires
July 26, 2016 14:11 ET (18:11 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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