Swisscom Q2 Net Profit Down 3.5%

Swisscom AG

reported a 3.5% drop in its second quarter net profit. Swisscom's quarterly net profit dropped to CHF468 million, versus CHF485 million, in the year-ago period. However, analysts were expecting a net profit of CHF461 million. Its revenue declined 1.4% to CHF2.82 billion from CHF 2.86 billion, versus analysts' estimates of CHF2.83 billion. In the first half of 2012, the company's net revenue fell 1.8% to CHF 5,621 million. Swisscom shares closed at $40.46 yesterday.