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Telecom Italia revenues down 8% in Q1, confirms FY core profit forecast

2020-05-19 08:58:00| Telecompaper Headlines

(Telecompaper) Telecom Italia (TIM) confirmed its full-year core profit guidance in spite of an 8.4 percent year-on-year decline in first-quarter revenues to EUR 3.96 billion, attributed to a sharp fall in domestic sales resulting from lower customer numbers in stores and reduced roaming traffic during the coronavirus lockdown. The company's EBITDA was down 7.5 percent year on year on organic terms to EUR 1.77 billion in the first 3 months of 2020 thanks to cost savings and a 1.6 percent rise in revenues at TIM Brasil that partially offset the lower domestic revenues.

Tags: italia core profit telecom

Tencent lifts revenues in Q1 but profit growth slows amid pandemic

2020-05-13 14:45:00| Telecompaper Headlines

(Telecompaper) Tencent reported higher revenues for the first quarter, but also a slower profit growth as it faced headwinds caused by the coronavirus pandemic. The company said it allocated CNY 2 billion worth of donations to covid-19 relief initiatives in China and globally. Looking ahead, the company expects in-game consumption activities to normalise as people return to work. It also sees some headwinds in the online advertising industry.

Tags: growth profit revenues amid

Noble Energy to Curtail Production, Beats 1Q Profit

2020-05-08 15:16:25| OGI

Noble said it will curtail 5,000 bbl/d to 10,000 bbl/d in May and 30,000 bbl/d to 40,000 bbl/d in June from the companys U.S. onshore assets.

Tags: production energy profit noble

Lenzing Q1 profit tumbles 58.6%

2020-05-06 18:36:00| Daily apparel & textile news and comment - from just-style.com

Austrian cellulosic fibre producer Lenzing has reported a drop in both profit and revenue in the first quarter of 2020 as the firm continues to be plagued by lower selling prices for standard viscose amid the impact of Covid-19.

Tags: profit tumbles lenzing profit tumbles