Telecom Italia Reports Q3 Results That Show Signs of Improvement in Both Revenue and Margins
Telecom Italia reported third-quarter results that were generally in line with our projections, and we maintain our fair value estimate and narrow moat rating. The firm reported revenue up 1.4% year over year, but down 6.3% for the nine-month period, versus our full-year projection of a 5.8% decline. If the company continues to improve, full-year revenue could be a bit better than our forecast. For the nine-month period, its wireless businesses revenue improved 0.8%, with growth of 4.3% in consu...Telecom Italia is a telecommunications group based in Italy. Co. is engaged in the communications sector and, particularly, the fixed and mobile national and international telecommunications sector, the television sector and the office products sector. Co. operates mainly in Europe, South America and the Mediterranean Basin. Co.'s operations are organized along two operating segments: Domestic - Italy (providing telephone and data services on fixed-line and mobile networks for final customers (retail) and other operators (wholesale)); and Brazil (operates in the mobile phone, fixed telephony, in long-distance and data transmission markets in Brazil).
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