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Idea Cellular Q1 profit falls after accounting change

2016-08-08 02:00:00| Total Telecom industry news

Indian operator posts slowing revenue growth, in line with industry trend.

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BP's underlying replacement cost profit for Q2 2016 falls to $720m

2016-07-27 01:00:00| Offshore Technology

BP has reported that underlying replacement cost profits for the second quarter of this year fell to $720m, down 44% from $1.3bn a year ago.

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Verizon profit falls sharply after strike, mobile slowdown

2016-07-26 14:40:00| Telecompaper Headlines

(Telecompaper) Verizon reported a drop in second-quarter sales and profits, hurt by a seven-week strike during the period and the slowdown in growth at its mobile activities. Operating revenues of USD 30.5 billion were down 5.3 percent from a year earlier, or 3.5 percent lower after adjusting for the acquisition of AOL and sale of some local landline businesses. Operating profit tumbled 41.8 percent to USD 4.6 billion, after a sharp rise in SG&A costs. Net profit was down 80.9 percent to USD 831 million, after a gain from selling the landline activities, pension charge adjustments and costs for retiring around USD 10 billion in debt during the period. On an adjusted basis, earnings fell to USD 0.94 per share from USD 1.04, with an estimated impact of 7 cents a share from the strike.

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America Movil net profit falls 42% in Q1

2016-04-28 11:01:00| Telecompaper Headlines

(Telecompaper) America Movil reported a drop in first-quarter results, hurt by currency effects and the economic slowdown in Latin America. Revenues of MXN 223 billion were up just 1.4 percent year-on-year. Service revenues increased 0.3 percent in local currency and declined 1.1 percent at constant exchange rates. Fixed-broadband and pay-TV revenues led the growth, increasing 7.9 percent and 5.9 percent at constant exchange rates. EBITDA of MXN 61.7 billion was down 9.6 percent in local currency and 8.8 percent lower at constant exchange rates. Operating profit fell 25.6 percent in local currency terms, reflecting both the EBITDA reduction and a 10.3 percent increase in depreciation and amortization charges. The company obtained a net profit of MXN 4.8 billion in the quarter, down from MXN 8.3 billion a year ago. 

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Blackstone's Profit Falls 77% in Quarter as Asset Sales Slow

2016-04-21 17:46:00| National Real Estate Investor

David Carey and Devin Banerjee Blackstones opportunistic real estate funds gained 1.8 percent and its core-plus pools appreciated 4.4 percent. read more

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