Swisscom reports 17.2 percent drop in nine profit
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Switzerland's main telecommunications operator, Swisscom, reported a 17.2 percent decline in its nine-month net profit compared to last year to 1.14 billion Swiss francs (734 million euros, 963 million dollars) in 2004.
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LONDON (CBS.MW) -- Zurich Financial Services (ZZ:001107539) said Wednesday that third quarter net profits fell 31 percent to $454 million, hit by the impact of hurricanes.
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German phone giant Deutsche Telekom sees annual profits fall, following tough competition and lower prices.
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Telecommunications company Swisscom AG reported Wednesday that third-quarter net income fell 10 percent and said it would cut about 390 jobs, or 2.5 percent of its fulltime work force, next year.
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French media and technology group Lagardere on Monday posted disappointing annual net profits, due partly to a fall in income from its stake in the troubled European aerospace group EADS, the parent group of plane-maker Airbus.
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Siemens AG, Germany s largest engineering company, said fourth-quarter profit fell because of costs related to design faults in trains and a software bug in mobile phones.
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SBC Communications Inc.,  the No. 2 U.S. telecommunications company, said on Wednesday its fourth-quarter earnings fell 17 percent, hurt by merger-related costs at its Cingular Wireless joint venture and one-time charges for job cuts and pension changes.
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Tiffany & Company said yesterday that second-quarter profit fell 10 percent, hurt by a charge related to the sale of its Little Switzerland retail business, but sales beat expectations.
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Swiss banking giant UBS posted weaker third-quarter net profit on Tuesday, just missing market expectations, hurt by a seasonal fall in trading revenue despite a strong showing by its flagship private bank.
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UTStarcom Inc. on Tuesday said its third-quarter profit plummeted, but beat Wall Street expectations. The networking products company reported earnings of $5 million, or 4 cents per share, down from $59.
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The Swiss bank reported its first quarterly loss in five years after hefty writedowns on subprime-related investments, but said it expects a group profit in the last quarter.
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Southwest Airlines Co. , the leading U.S. discount carrier, posted a 16.5 percent drop in second-quarter earnings on Wednesday, but the decline was less than expected as demand rebounded in June.
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Credit Suisse (NYSE:CS) led European equity markets lower on Tuesday after writing down the value of asset-backed investments by $2.85bn, sending a further jolt through the financial services sectors.
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Quanta Computer Inc., the world&#39;s biggest notebook computer maker, reported an unexpected 7.2 percent decline in second-quarter profit.
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The company reported fourth-quarter profit of $85 million on weakness in its risk and insurance services business.
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Beleaguered Swedish telecom infrastructure group Ericsson, hit hard by a slowdown in the telecom sector, announced on Friday a 17-percent fall in 2007 net profit and the shedding of 1,000 jobs in Sweden.
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Credit Suisse reports a 72% dive in quarterly profits and says it expects "difficult conditions" in the near future.