Market Overview

Portugal Telecom Q1 Net Profit Drops 57%

Related PT
Market Wrap For October 2: Dollar Moves As Shutdown Continues
Mid-Afternoon Market Update: Tesla Drops on Baird Downgrade and YouTube Video

Portugal Telecom SGPS SA (NYSE: PT) reported a drop in its net profit in the first quarter.

Portugal Telecom's quarterly net profit fell to EUR56.5 million, from EUR129.7 million, in the year-ago period. However, analysts were expecting net profit of around EUR46.2 million.

Its operating revenue rose to EUR1.72 billion from EUR871.1 million, while operating costs climbed to EUR1.14 billion from EUR513.7 million.

PT's earnings before interest, taxes, depreciation and amortization surged to EUR571.7 million from EUR357.4 million.

PT shares closed at $4.97 yesterday.

Posted-In: profitEarnings News

 

Most Popular

Related Articles (PT)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free