UPDATE 2-Swisscom results in line, confirms outlook

* Swisscom 9-month net profit 1.5 bln Sfr, meets forecasts

* 9-month revenues 8.9 bln Sfr vs forecast 8.9 bln

* 2009 guidance confirmed

* Shares up 1.7 pct, beat sector (Adds details, shares)

By Emma Thomasson

ZURICH, Nov 11 (Reuters) - Swisscom (SCMN.VX) AG reported a 17 percent rise in nine-month net profit on Wednesday due to lower depreciation and one-off items and confirmed its full-year outlook. The former monopoly reported net profit of 1.534 billion Swiss francs ($1.52 billion), compared with an average analyst forecast for 1.51 billion.

Swisscom said net profit was on a par with the year-ago level, excluding one-off items such as the adjustment of depreciation periods as well as charges in the previous year related to the termination of long-term leasing agreements.

Swisscom confirmed its guidance for 2009, saying excluding Italian broadband operator Fastweb FWB.MI it saw revenue down by up to 300 million to between 9.2 billion and 9.3 billion francs and core profit of 3.8 billion to 3.9 billion francs.

Shares in Switzerland's dominant telecommunication's group, which have risen almost 10 percent this year, were up 1.7 percent at 0935 GMT, outperforming a 0.4 percent weaker DJ Stoxx European telecommunication sector index .SXKP.

Vontobel analyst Patrick Rafaisz said the results were broadly in line with expectations, but said he was slightly raising his estimates and dividend expectations due to Swisscom's strong operating free cash flow.

"We expect the dividend yield to go to 6.2 percent, slightly above the European sector median," he said, adding he was putting his price target of 360 francs under upward review, while confirming his "hold" rating.

Julius Baer analysts noted the operating profit and operating free cash flow were slightly better than expected.

Swisscom bought Fastweb in 2007, returning to a more aggressive strategy to counter lacklustre growth at home where, like other former monopolies, it faces increasing competition.

The government still holds some 50 percent in Swisscom.

It said Fastweb continued to grow strongly, with net sales up 10 percent to 1.4 billion euros and customer numbers up 11.4 percent to 1.6 million. Swisscom expects 2009 Fastweb sales of 1.8 billion euros.

Nine-month sales fell 1.8 percent to 8.9 billion francs as Swisscom said growth in customer numbers and new offerings was unable to offset the effects of price erosion due to stiffer competition and regulatory changes. ($1=1.008 Swiss Franc) (Editing by Jon Loades-Carter)