HELSINKI, April 25 Finnish IT services provider
Tieto on Friday reported a rise in quarterly earnings
even as sales fell short of expectations.
Tieto's first-quarter operating profit, excluding one-off
items, was 34.5 million euros ($47.7 million), slightly better
than analysts' average expectation of 33.3 million and
improvement from the 32 million euros posted a year earlier.
First-quarter sales fell to 387 million euros from 424 in
the same period a year earlier, below the Reuters poll forecast
of 401 million euros.
The company has been slashing costs over the past year to
cope with weak demand, particularly from the telecommunications
sector. ($1 = 0.7236 Euros)
(Reporting by Sakari Suoninen; Editing by Jussi Rosendahl)