CORPORATE FORTUNES

TIM Profits Fall

By Jonathan Easton

Telecom Italia (TIM) has seen its Q2 profits fall by 7.4 per cent, the operator has said.
The decline was attributed to losses in key domestic markets, while core domestic revenues fell 1 per cent year-on-year to €3.13 billion(US$3.71billion). This was slightly above the analyst predictions of €3.11 billion euros.
The operator’s EBITDA after lease costs fell to €1.43 billion, versus analyst predictions of €1.44 billion.
Overall, total revenues stood at €3.815 billion in the period, up 1 per cent from the previous year. The operator said that this was helped by operations in Brazil.
The results reveal comes at a time when Italy’s watchdog is investigating TIM’s partnership with DAZN, after Sky and a number of other operators complained that TIM is the only telco that can offer customers a subscription to DAZN which is now the primary rights holder to Italy’s top flight football league Serie A.

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