Alcatel-Lucent Slumps on Operating Loss as Sales Trail Estimates
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Alcatel-Lucent SA, France’s largest telecommunications equipment supplier, dropped as much as 17 percent after reporting a first-quarter loss and as sales missed estimates because European clients withheld spending.
The operating loss, adjusted for some items, was 221 million euros ($292 million), after a year-earlier profit of 4 million euros, the Paris-based company said today. Revenue fell 12 percent to 3.21 billion euros, partly reflecting the sale of call-center software unit Genesys. Analysts had projected sales of 3.24 billion euros.