Telecom Italia Posts Upbeat Earnings
Telecom Italia SpA (NYSE: TI) 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.
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