- Alcatel-Lucent (ALU): Q2 net loss widens to €885M from €254M last year and vs expectations of €280M; operating profit €24M vs loss of €86M and consensus for loss of €39.4M.
- Revenue +1.9% to €3.61B vs forecasts of €3.48B, with sales boosted by a large increase in revenue from North America.
- Takes €552M impairment charge related to the reorganization of the company's wireless business and €194M restructuring charge.
- Cuts €120M in costs, cash burn drops to €248M from €517M.
- Qualcomm (QCOM) is buying a small stake in Alcatel-Lucent as part of an R&D pact to make new wireless transmitters for homes and offices; ALU plans to seek a total of 3-5 strategic partners that will acquire small holdings.
- Shares +7.6% in Paris. (PR)
Alcatel-Lucent Q2 net loss widens; Qualcomm to buy stake; shares leap
Jul 30 2013, 03:49 ET