Swisscom Lowers Earnings Forecast as Quarterly Profit Drops
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Swisscom AG, Switzerland’s biggest phone company, reduced its full-year earnings forecast on costs related to cutting jobs after third-quarter profit missed analysts’ estimates.
Net income declined to 458 million francs ($485 million) from 564 million francs a year earlier, the Bern-based company said in a statement today. That missed the 480 million-franc average estimate of analysts surveyed by Bloomberg. Sales fell