Global telecoms see mixed quarterly results

Swisscom reports 1Q net profit down: Switzerland's biggest telco, Swisscom, said its first quarter net fell 7.2 percent to $407.5 million primarily due to costs associated with last year's purchase of Italy's Fastweb SpA. Analysts had predicted the company would earn $428.4 million. Revenues-helped by Fastweb-rose 23 percent to $2.79 billion. Read the International Herald Tribune story 

Telecom Italia 1Q net down 35%:  Italy's biggest phone company, Telecom Italia, said regulator-enforced domestic price cuts and slowed demand in Brazil caused first-quarter profit to plummet 35 percent to $774 million. Telecom Italia is focusing on expansion abroad and debt reduction to make up for increased competition, regulatory pressure on prices and lower profit margins at home. Check out the Easy Bourse story

Telecom Argentina doubles Q1 profit: Telecom Argentina saw first quarter profit double to $85 million on the strength of a 60 percent increase in broadband subscribers to 841,000 and an 18 percent jump in mobile subscribers to 12.6 million, the company said today. See the RTT News story