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Bharti misses the mark on earnings and revenue

Posted Jul 23rd 2009 8:40AM by Tom Johansmeyer (RSS feed)
Filed under: International Markets, India, Technology

Bharti Airtel Ltd. (ISE: 55QN) missed analyst expectations for the second quarter. The largest mobile phone operator in India gained clients in the country's smaller towns and villages, resulting in lower than expected revenues. The company pulled in INR99.4 billion ($2.05 billion) for the second quarter -- compared to analyst expectations of INR101.7 billion. Nonetheless, revenue was up from INR84.8 billion for the second quarter of 2008. Net income grew 24% to INR25.2 billion. Net of a tax gain, however, the company missed analyst forecasts of INR23.6 billion.

Continue reading Bharti misses the mark on earnings and revenue

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