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AT&T Q1 profits fall on acquisition costs, flat revenues
2015-04-23 07:38:00| Telecompaper Headlines
(Telecompaper) AT&T reported nearly flat revenues for the first quarter, due to tough competition in the mobile market and the sale of some of its wireline activities. Revenues were up just 0.3 percent year-on-year to USD 32.6 billion. If the divested Connecticut wireline properties are excluded, revenues rose 1.2 percent. Operating profit fell to USD 5.5 billion from USD 6.3 billion a year ago, hurt by a rise in costs for reducing staff and merger and integration expenses. Net profit dropped to USD 3.2 billion or USD 0.61 per diluted share, compared to USD 3.7 billion or USD 0.70 per share in the year-ago quarter. This includes 3 cents a share for voluntary employee separations, 4 cents for merger and integration expenses and a 5-cent gain from a tax item. After capital expenditures of USD 4.0 billion, free cash flow totaled USD 2.8 billion. AT&T said it was on track to meet its full-year guidance and close the acquisition of DirecTV in the second quarter. The company also increased the expected cost synergies from the acquisition to USD 2.5 billion per year, compared to an estimate of USD 1.6 billion when the deal was announced last year.
McCormick Q1 profits fall but holds adjusted forecasts
2015-03-24 21:47:30| Food - Topix.net
US food company McCormick & Co. has reported a fall in first-quarter profits after being hit by foreign exchange, costs from reorganising its operations and higher raw material costs.
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Profits fall at Ooredoo, but data revenues grow
2015-03-11 01:00:00| Total Telecom industry news
Qatar-based operator hit by Iraq situation, forex issues; signs up 2.2 million customers in Myanmar.
Barclays annual profits fall 21%
2015-03-03 09:13:49| BBC News | Business | UK Edition
Barclays reports a 21% fall in full-year statutory pre-tax profits, as boss Antony Jenkins is awarded his first bonus as chief executive.
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annual
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barclays
Lenovo sales up 31%, profits fall on acquisition costs
2015-02-03 08:34:00| Telecompaper Headlines
(Telecompaper) Lenovo reported revenues for its fiscal third quarter of USD 14.1 billion, up 31 percent year-on-year. Adjusted pretax profit, excluding costs for the company's takeovers of Motorola Mobility and IBM's x86 server business, rose 8 percent to USD 348 million. Including these costs, net profit for the three months to December fell 5 percent to USD 253 million. PCs accounted for 65 percent of the company's revenue, down from 81 percent a year ago, while Mobile delivered 24 percent and Enterprise contributed 9 percent. Lenovo shipped 16 million PCs in the quarter, up 4.9 percent year-over-year. Motorola shipped over 10 million phones, more than double the year-earlier period, and contributed USD 1.9 billion to Lenovo's total USD 3.4 billion in mobile revenues.
Tags: sales
fall
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acquisition
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