While U.S. telco giants Verizon Communications and AT&T are coming out of first-quarter earnings looking fairly robust, a couple of European telcos are busily revising their financial forecasts for the rest of 2009, in light of downward economic trends.
Sweden's TeliaSonera late last week became the second European telco to do so after Germany's Deutsche Telekom. TeliaSponera had originally forecasted a revenue jump for 2009, but now says its full-year 2009 revenue will be closer to its full-year 2008 figure of $12.8 billion, with lighter consumer spending as the main driver for the change in attitude.
For more:
- Light Reading Europe has this report [1]
Related article
DT issued its own warning last week [2]
Links:
[1] http://www.lightreading.com/document.asp?doc_id=175846&f_src=lightreading_section_5
[2] http://www.fiercetelecom.com/story/dt-cuts-outlook-mobile-economic-pressure/2009-04-22