WORBLAUFEN (dpa-AFX) - Swisscom AG (SWZCF.PK, SCMWY.PK), a Swiss telecom company, on Thursday reported a rise in net profit for the second-quarter, amidst lower expenses. However, the company registered a fall in revenue hurt by euro's performance as a result of the substantial share attributable to the Italian subsidiary Fastweb.
In addition, Swisscom has kept its annual outlook unchanged.
For the three-month period to June 30, the company recorded a net income of CHF 406 million or CHF 7.84 per share, higher than CHF 338 million or CHF 6.51 per share, posted for the same period of 2022.
Pre-tax income stood at CHF 508 million as against last year's CHF 435 million.
Operating income was at CHF 542 million, compared with CHF 450 million a year ago.
Operating income before depreciation and amortization or EBITDA improved to CHF 1.139 billion from CHF 1.054 billion of previous year. Other operating expenses were at CHF 461 million, versus previous year's CHF 565 million.
Revenue, however, declined to CHF 2.703 billion from CHF 2.713 billion of 2022.
Looking ahead, for full year 2023, Swisscom still expects to post revenue of CHF 11.1 billion to CHF 11.2 billion, with EBITDA of CHF 4.6 billion to CHF 4.7 billion. The company also projects capital expenditure of around CHF 2.3 billion, for 2023.
For 2023, the telecom company intends to propose an unchanged dividend of CHF 22 per share.
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