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Thursday, Oct 31
Alcatel-Lucent's net losses drop
- Alcatel-Lucent's (ALU) Q3 net loss narrowed to €200M from €316M a year earlier and came in better than analyst expectations of €274M. The latest results include restructuring charges of €117M and financials charges of €218M.
- Revenues rose 1.9% to €3.67B and also surpassed consensus.
- Alcatel-Lucent swung to an adjusted operating profit of €116M from a loss of €126M last year
- Revenues at the company's core networking segment rose 6% at constant exchange rates; adjusted operating income was 6.1% of revenues vs 0.2% last year.
- Alcatel-Lucent expects strong seasonal activity to drive its Q4 business, while it also projects that fixed-costs savings will hit the top end of its €250-300M target. Year-to-date savings have reached €259M. (PR)