Telecom Italia lifts profit outlook helped by cost cutting

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TIM said its core earnings after lease fell by 14.3% to 1.3 billion euros in the April-June period, marginally ahead of an analyst consensus provided by the company of 1.29 billion euros.

TIM said it now sees its core profit after lease costs falling by a ‘low-teens’ percentage this year from its previous guidance of a ‘mid-to-high teens’ decrease.