By Marc Navarro Gonzalez and Pietro Lombardi
Telecom Italia SpA (TIT.MI) said Friday that its third-quarter net profit fell 8.4% from the year-earlier period, hit by higher operating expenses.
Italy's largest telecom operator net profit in the three months period ended Sept. 30 was 437 million euros ($507.7 million), compared with EUR477 million a year earlier. Revenue for the quarter stood at EUR4.91 billion, up from EUR4.84 billion.
The company said that earnings before interest tax depreciation and amortization, or ebitda, declined 2.5% to EUR2.1 billion.
Telecom Italia confirmed, in organic terms, the guidance for the year.
Write to Marc Navarro Gonzalez at [email protected]