August 6, 2014 / 5:47 AM / 3 years ago

Telecom Italia H1 core earnings fall, continues Brazil review

MILAN, Aug 6 (Reuters) - Telecom Italia said on Wednesday its core earnings fell 7.6 percent in the first half as a weak economy in its domestic Italian market and a slowdown in Brazil weighed on sales.

The company said in a statement earnings before interest, tax, depreciation and amortisation (EBITDA) were 4.345 billion euros ($5.81 billion), roughly in line with an analyst consensus estimate of 4.379 billion euros.

Revenues fell 11.2 percent to 10.551 billion euros, also hit by a devaluation of the Brazilian real, while adjusted net debt was 27.358 billion euros, up 551 million euros from end-2013.

Telecom Italia also said it would continue to carry an in-depth evaluation of its strategic options in Brazil, reiterating the country was a core market for the group. (1 US dollar = 0.7482 euro) (Reporting by Danilo Masoni; editing by Agnieszka Flak)

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