February 6, 2014 / 6:31 AM / 4 years ago

Tieto Q4 profit falls

HELSINKI, Feb 6 (Reuters) - Finnish IT services provider Tieto reported an expected fall in quarterly sales and earnings due to a slump in corporate technology spending.

Tieto’s fourth-quarter operating profit, excluding one-off items, was 42.7 million euros, roughly in line with analysts’ expectations and slightly down from 44.2 million euros a year earlier.

The company has been slashing costs over the past year to cope with weak demand, particularly from the telecommunications sector. (Reporting by Helsinki newsroom; Editing by John Stonestreet)

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