Swisscom reports CHF 1.02 billion profit
Swiss telecoms giant Swisscom on Wednesday said net profit grew 20.7 percent on the year.
Geneva -- Swiss telecoms giant Swisscom on Wednesday said net profit grew 20.7 percent on the year to CHF 1.02 billion (EUR 665 million, USD 943 million) in the first semester.
The result was better than expected by analysts questioned by the Swiss financial news provider AWP, who predicted CHF 971 million for the period.
Sales were down by 1.2 percent to CHF 5.91 billion, in line with expectations.
At a constant rate of exchange, sales were up by 0.3 percent. Earnings (EBITDA) also fell back 3.8 percent to CHF 2.33 billion.
The group said that an increase in the number of its customers had not compensated for the continuous erosion of prices on the Swiss market, central to its activities.
AFP / Expatica