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    Tuesday, November 17, 2009

    Portugal Telecom Third-quarter Net Income Down 36%

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    By Barbara Kollmeyer
    MarketWatch Pulse
       

      MADRID -- Portugal Telecom reported on Tuesday that third-quarter net income fell 36% to 115.9 million euros ($173 million), or 13 euro cents a share, from 181.7 million euros, or 20 euro cents a share in the year-ago period. A survey of analysts by Reuters was calling for net income of 108 million euros. Revenue fell 2.3% to 1.74 billion euros, from 1.78 billion euros in the year-ago period. The company attributed lower mobile termination rates to the fall in net income. Portugal Telecom is investing heavily in a fiber network and television service in Portugal and in 3G and 3.5G technology in Brazil.

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