Swisscom AG (ADR) ( (SCMWY) ) has released its Q3 earnings. Here is a breakdown of the information Swisscom AG (ADR) presented to its investors.
Swisscom AG (ADR) is a major telecommunications provider operating primarily in Switzerland and Italy, known for its extensive network services and strategic investments in infrastructure. In its latest financial report for January to September 2024, the company recorded a slight decline in revenue and net income, with revenue decreasing by 0.4% to CHF 8,173 million and net income falling by 2.1% to CHF 1,283 million. Key financial metrics showed a minor dip, with EBITDA decreasing by 1.1% to CHF 3,438 million, while capital expenditure increased by 6.2% to CHF 1,731 million, reflecting ongoing investments in network expansion. Despite challenges such as exchange rate impacts and preparation costs for a major acquisition, Swisscom’s subsidiary Fastweb demonstrated growth, with a 6.3% rise in revenue driven by increased business customer engagement and wholesale broadband expansion. Looking ahead, Swisscom remains committed to its financial targets for 2024, projecting revenue around CHF 11.0 billion and maintaining its dividend strategy, while preparing for the strategic acquisition of Vodafone Italia.
