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Swisscom Q3 net profit up 9 pct to 513M francs
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BERN, Switzerland - Swiss telecommunications operator Swisscom AG posted a 9 percent rise in third-quarter net profit Wednesday, helped by lower subsidies for cell phone handsets in the saturated domestic market.
Net profit was 513 million Swiss francs ($511 million), compared with 470 million francs for the same period last year. Earnings per share rose 8.3 percent to 9.88 francs from 9.13 francs.
The results beat analyst expectations, lifting Swisscom shares 1.4 percent to 387.40 francs on the Zurich exchange.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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