Swisscom Q1 Net Income Drops 3.8%

Swisscom AG SCMWY reported a 3.8% drop in its first-quarter net income. Swisscom's quarterly net revenue fell 2.1% to CHF2.082 billion. Its operating income (EBITDA) dropped 2.0% to CHF1.10 billion. Its net income dropped 3.8% to CHF456 million in the period. Swisscom shares closed at $36.65 yesterday.