By Anthony Shevlin
Telecom Italia SpA (TIT.MI) backed its outlook for the year despite a drop in first-half revenue as its profit rose on non-recurring income.
The Italian company said reported profit for the first half was 551 million euros ($609.2 million) compared with EUR532 million the year prior. The company said it benefited from nonrecurring net income of EUR53 million.
Revenue for the first half fell to EUR8.99 billion from EUR9.41 billion.
Telecom Italia backed its outlook for the rest of the year and said the results in the second quarter were in line with expectations.
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