Netia Hits Four-Month Low as Polish Phone Company Posts Net Loss
Netia SA (NET), Poland’s second-largest fixed-line phone company, tumbled to the lowest in more than four months after posting a net loss in the first quarter, missing estimates for a profit.
The shares declined as much as 5.3 percent to 5.34 zloty, the weakest level since Jan. 10, and traded 4.1 percent lower at 5.41 zloty as of 9:08 a.m. in Warsaw.
The net loss narrowed to 9.85 million zloty ($2.94 million) from 23 million zloty a year earlier. Three analysts surveyed by Bloomberg called for a profit of 4.43 million zloty.
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