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Telecom Italia cuts outlook, to go ahead with fixed spin-off
2013-08-02 09:22:00| Telecompaper Headlines
(Telecompaper) Telecom Italia reported a net loss for the first half of 2013 after writing down the value of its domestic operations. It also cut its outlook for EBITDA this year forecasting a steeper decline due to weakness in its home market. The net loss totaled EUR 1.407 billion, versus a profit of EUR 1.242 billion a year ago. Revenues fell 7 percent year-on-year to EUR 13.760 billion, with a 10.4 percent fall in Italy and negative currency effects on its operations in South America. EBITDA was down 10.6 percent to EUR 5.236 billion, and Telecom Italia said it now expects a "mid single-digit" decline for the full year, versus its previous outlook of a low single-digit drop. Adjusted net debt totaled EUR 28.813 billion at the end of June, little changed from three months earlier. The company still expects debt of less than EUR 27 billion by year-end and also reiterated its target for stable revenues over the full year. Telecom Italia said it has also decided to go ahead with the proposed spin-off of its fixed network into a separate company.
Tags: fixed
italia
ahead
outlook
UPS Cuts EPS Outlook, Price Falls - Analyst Blog
2013-07-16 06:44:20| Air Courier - Topix.net
Leading freight carrier, United Parcel Service, Inc. has slashed its earnings forecast for 2013 to $4.65 to $4.85 per share from $4.80 to $5.06.
UPS cuts profit outlook on soft demand, says trend will continue; shares fall
2013-07-13 22:36:41| Trucking - Topix.net
United Parcel Service Co. says its second quarter earnings per share will be $1.13.
World Bank cuts China growth outlook
2013-06-13 04:36:23| BBC News | Business | UK Edition
The World Bank cuts its forecast for China as it warns that global economy is transitioning towards a period of more stable, but slower growth.
US: Ann Inc cuts outlook after Q1 profit decline
2013-06-07 14:14:00| Daily apparel & textile news and comment - from just-style.com
Women's wear retailer Ann Inc has cut its full-year sales guidance after first-quarter profit declined 27.2%, weighed down by unseasonably cool weather.
Tags: profit
ann
outlook
decline
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