Telecom Italia: stock hit after Q1 results

(CercleFinance.com) - The Telecom Italia share is down about 6% in Milan on Tuesday, the day after the group published its Q1 results.
These included net profit that more than tripled to 591 million euros, while EBITDA was down 7.5% in organic terms at 1.8 billion euros.

The Italian telecoms operator's revenues fell 8.4% to four billion euros (-6.6% for service revenues), impacted by a reduction in the number of customers at its stores during the lockdown.

Oddo BHF however notes several transformative initiatives that are underway, which are progressing well and which could find more political support given the current crisis, after this publication that fell short of expectations, with the group hit by both a price war and the COVID pandemic.


Copyright (c) 2020 CercleFinance.com. All rights reserved.