Snam SpA SNMRY posted a 10% drop in its first-quarter net profit.
Snam's quarterly net profit declined to EUR274 million, versus EUR305 million, in the year-ago quarter. Its revenue climbed 7.9% to EUR969 million, from EUR898 million.
Snam's earnings before interest, taxes, depreciation and amortization (EBITDA) surged 4.1% to EUR708 million.
Analysts were expecting a net profit of EUR264.3 million, revenue of EUR901.2 million and EBITDA of EUR700.7 million.
Snam shares closed at $8.94 yesterday.
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