Telecom Italia 3Q Net Profit Falls on Higher Expenses

By FeaturesDow Jones Newswires

Telecom Italia SpA (TIT.MI) said Friday that its third-quarter net profit fell 8.4% from the year-earlier period, hit by higher operating expenses.

Italy's largest telecom operator net profit in the three months period ended Sept. 30 was 437 million euros ($507.7 million), compared with EUR477 million a year earlier. Revenue for the quarter stood at EUR4.91 billion, up from EUR4.84 billion.

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The company said that earnings before interest tax depreciation and amortization, or ebitda, declined 2.5% to EUR2.1 billion.

Telecom Italia confirmed, in organic terms, the guidance for the year.

Write to Marc Navarro Gonzalez at marc.navarrogonzalez@dowjones.com

(END) Dow Jones Newswires

November 10, 2017 04:33 ET (09:33 GMT)