Telecom Italia Third-Quarter Profit Tops Analysts Estimates
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Telecom Italia SpA posted third-quarter profit that beat analysts’ estimates and reiterated its full-year forecasts as costs in Italy were kept in check amid the tensions of an economic slowdown. The stock rose the most in a month.
Net income declined 13 percent to 681 million euros ($870 million) from a restated profit of 786 million euros a year earlier, Italy’s largest phone company said in a statement today. Analysts had estimated profit of 664 million euros, according to data compiled by Bloomberg.