Swisscom Lowers Full-Year Sales Forecast

Swisscom AG SCMWY lowered its full year sales forecast by CHF300 million. Swisscom's total revenue in the second quarter dropped to CHF2.86 billion from CHF2.99 billion, versus analysts' estimates of CHF2.91 billion. Swisscom's quarterly net profit for shareholders declined to CHF485 million from CHF494 million, versus estimates of CHF516 million. Swisscom's shares fell 3.18% to close at $47.25 yesterday.