By Adria Calatayud
Telecom Italia reported a narrowed loss for the third quarter, thanks to higher revenue and cost savings.
The Italian telecommunications company posted a quarterly net loss of 311 million euros ($332.8 million) compared with a loss of EUR2.245 billion for the same period last year.
Revenue for the quarter grew 3.4% to EUR4.11 billion, with growth in both Brazil and in its domestic business, the company said Wednesday.
Organic earnings before interest, taxes, depreciation and amortization after leases increased 8.6% to EUR1.42 billion.
Analysts expected organic Ebitda after leases of EUR1.37 billion and revenue of EUR4.02 billion, according to consensus estimates provided by the company.
Telecom Italia said its results for the first nine months of the year are fully in line with its 2023 targets.
Write to Adria Calatayud at [email protected]
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