Swisscom Lowers Full-Year Sales Forecast
Swisscom AG (OTC: SCMWY) lowered its full year sales forecast by CHF300 million.
Swisscom's total revenue in the second quarter dropped to CHF2.86 billion from CHF2.99 billion, versus analysts' estimates of CHF2.91 billion. Swisscom's quarterly net profit for shareholders declined to CHF485 million from CHF494 million, versus estimates of CHF516 million.
Swisscom's shares fell 3.18% to close at $47.25 yesterday.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.