ZURICH May 3 Swisscom AG said on
Wednesday that first-quarter net profit rose 2.5 percent,
beating analyst expectations, as the state-controlled
telecommunications company continued cost-cutting in its home
Net profit rose to 373 million Swiss francs ($376.27
million), more than the average estimate of 355 million francs
in a Reuters poll. Sales slipped 1.9 percent to 2.83 billion
The company cut its Swiss headcount by 680 employees to
18,280 from the previous year as its core business declined.
Swisscom left its outlook unchanged for 2017, when it still
expects net revenue of around 11.6 billion francs and an
operating profit of around 4.2 billion francs.
($1 = 0.9913 Swiss francs)
(Reporting by John Miller; Editing by Gopakumar Warrier)