Financial performance - 04/05/08
Sprint Nextel has been downgraded by S&P Ratings Services from BBB- to BB for high risk profile and deteriorating financial performance.
Verizon' s 2008 EPS target has been lowered by Lehman Brothers (-$0.01) to $3.12 and RW. Baird.
ATT' s 2008 EPS target has been lowered by Lehman Brothers (+$0.05), but increased by CSFB (+0.05) to $3.08.
Rogers Comms (Canada) reports 1Q08 net profit of $339m (+100%), on revenues of $2.6bn (+14%).
DiGi.com (Malaysia) said its 1Q08 net profit amounted to $92m (+18%).
Zain reports 1Q08 net profit of €177m (+3%).
KPN (NL) reports 1Q08 net income rose 7% to €334m, on revenues of €3.6bn, up 22%. EBITDA rose 3% to €1.2bn.
Telenor announced 1Q08 earnings of €700m, on revenues of €3.3bn (+4%) and EBITDA of €904m.
Vivo (Brazil) reported 1Q08 net profit of €35m (vs a loss in 1Q07), on revenues of €1.3bn, up 17%. EBITDA amounted to €377m, up 27%.
Telecom NZ said its 1Q08 net profit dropped by 41% to $110m, its FY9mo net profit reached $422m (down 22%) on revenues of $954m (+1.5%)
Nortel demonstrated continued progress even if 1Q08 net loss worsened to $138m (from $103m), but with revenues up 11% to 2.8bn (of which carrier networks sales increased 21% to $1.2bn). 1Q08 loss was impacted by charges amounting at $119m for restructuring, patent lawsuit settlement and changes in foreign exchange rates. Nortel reiterates its full-year goals.
Ericsson share price target has been increased by Lehman Brothers to $19 (+1) after healthy 1Q08 results). The share went up more than 12% after the financial announcement.
Motorola share price is lowered Lehman Brothers to $11 (-1) after Motorola shows no financial improvement in1Q08.
Lehman Brothers has lowered its price target on Tellabs to $6.5 (-0.75), and almost halved its EPS estimates to $15cts.
UTStarcom reported false financial reporting: two executives are fined by US SEC.
Juniper Networks said its 1Q08 net profit jumped 66% to $110m, on revenues of $823m, up 31%.