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UPDATE 1-Swisscom posts surprise quarterly profit, maintains outlook
November 2, 2017 / 7:49 AM / 23 days ago

UPDATE 1-Swisscom posts surprise quarterly profit, maintains outlook

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ZURICH, Nov 2 (Reuters) - Swisscom stuck to its 2017 outlook and dividend plans on Thursday after reporting a surprise rise in third-quarter net profit.

The telecoms operator reiterated its guidance for net revenue of about 11.6 billion Swiss francs ($11.6 billion) and core profit of approximately 4.3 billion francs this year, with capital spending of about 2.4 billion francs.

If it hits the targets, Swisscom will propose an unchanged dividend of 22 francs per share, it said.

“Thanks to a strong market performance and active cost-management measures, we are all on track to meet the forecast for the year as a whole,” said Chief Executive Urs Schaepi.

He cited good performance in a saturated home market and solid growth at Italian business Fastweb.

Third-quarter net profit rose to 430 million Swiss francs, beating even the highest estimate in a Reuters poll of analysts that on average saw a decline to 387 million.

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 1.3 percent to 1.09 billion francs, just ahead of the average poll estimate of 1.07 billion francs. ($1 = 0.9988 Swiss francs) (Reporting by Michael Shields; Editing by David Goodman)

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