Swisscom: quarterly results judged 'solid'

(CercleFinance.com) - Swisscom shares are recovering in Zurich on Friday, after the publication of Q2 results that are deemed to be "solid".


After falling for two sessions, at around 11 am the share is up 2.5% at 484.8 Swiss francs, the best performer in the SMI index.

The Swiss telecom operator last night reported Q2 EBITDA of 2.24 billion Swiss francs, up 4.5% y-o-y.

At 5.66 billion Swiss francs, the group's revenues are down 2.4%, and down 1.7% at constant exchange rates.

UBS analysts - who have a "neutral" rating on the share, with a target price of 483 Swiss francs - says that, despite everything, performance is "solid".

For FY 2019, Swisscom still expects net sales of around 11.4 billion Swiss francs for EBITDA of over 4.3 billion Swiss francs.


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