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Telecom Italia revenues down 5% in Q3, spins off data centre business
2020-11-11 08:57:00| Telecompaper Headlines
(Telecompaper) Telecom Italia (TIM) reported an organic 5.0 percent year-on-year decline in revenues to EUR 3.90 billion in the third quarter of 2020, an improvement on the previous quarter's 10.1 percent fall, attributed in part to Italy's strong recovery from the first Covid-19 lockdown and higher fibre demand. Underlying service revenues also improved somewhat to EUR 3.5 billion, down 6.4 percent year on year compared to an 8.2 percent decline in the second quarter. Organic earnings before interest, tax, depreciation and amortisation (EBITDA) after lease costs came to EUR 1.76 billion, down 7.9 percent year on year, due to negative Covid-19 impact that was in part offset by a 1.3 percent rise in service revenues at TIM Brasil. [ more ]
Tags: business
data
centre
italia
Category:Telecommunications