Telecom Italia Posts Upbeat Earnings

Telecom Italia SpA

posted a rise in its gross operating profit last year. Telecom Italia's consolidated earnings before interest, taxes, depreciation and amortization climbed 7.3% to EUR12.246 billion, versus analysts' estimates of EUR12.2 billion. Its group revenue gained 8.7% to EUR29.96 billion. However, net debt declined to EUR30.4 billion at the end of 2011, versus EUR31.5 billion in the year-ago period. Telecom Italia shares gained 5.55% to $11.42 in pre-market trading.