Russia's Rostelecom profits drop over 72 percent

A disposal gain and rising costs contributed to Russian service provider Rostelecom's 72.5 percent nine-month profit drop for 2009.

The Russian service provider reported earnings of $107 million, a decline from the $388 million the company reported in 2008--a number helped by the $284 million sale of its piece of wireline service provider Golden Telecom.

Operating profit declined 36.6 percent to $129 million amidst flat revenues and a 6 percent jump in operating costs--factors it attributes to rising international traffic transit costs.  

For more:
- Reuters has this article

Related articles
Rostelecom, OTEGlobe strike network agreement

Suggested Articles

IBM has named internship and mentor program Outreachy as the winner of its second $50,000 Open Source Community Grant.

While carriers have kept up with the networking demands related to the COVID-19 pandemic, Vodafone is upgrading its network by 4 TBps of capacity.

According to revised research by International Data Corporation (IDC), worldwide IT spending is now expected to decline by 2.7%.