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Swisscom sticks to outlook after Q2 net profit miss

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FILE PHOTO: The logo of Swiss telecoms group Swisscom is seen at an office building, in Zurich
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ZURICH (Reuters) - Swisscom stuck to its 2022 outlook on Thursday after second-quarter net profit lagged market expectations.

Second-quarter consolidated operating income before depreciation and amortisation (EBITDA) fell to 1.05 billion Swiss francs ($1.09 billion) on revenue of 2.73 billion. Net income attributable to shareholders fell to 337 million francs.

The market had expected quarterly revenue of 2.74 billion francs, EBITDA of 1.07 billion and net income of 356 million, according to consensus figures compiled by the company.

The former state monopoly reiterated its forecast from April that it expected 2022 net revenue of 11.1-11.2 billion francs, EBITDA of around 4.4 billion francs and capital expenditure of around 2.3 billion. {nFWN2WP2FA]

It said it still planned to propose a dividend of 22 francs per share if it hits its targets.

($1 = 0.9610 Swiss francs)

(Reporting by Michael Shields; Editing by Riham Alkousaa)

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