ATHENS, Greece (AP) ¿ OTE, Greece's dominant telecoms operator, said Thursday its net profit fell 19 percent in the third quarter from a year earlier because of the international financial crisis. The company ¿ its full name is the Hellenic Telecommunications Organization ¿ said it had net profit of euro163.1 million ($240.8 million) in the quarter, compared to euro201.3 million ($297.1 million) in that period last year. Germany's Deutsche Telekom owns 30 percent of OTE shares. "Our Group turned in a resilient performance this quarter, as the countries of Southeast Europe felt the full brunt of the economic crisis that had hit their western and northern neighbors earlier in the year," OTE Chairman and CEO Panagis Vourloumis said. OTE shares were up 1 percent at euro11.52 ($17) in late trading on the Athens Stock Exchange. ___ On the Net: OTE: http://www.ote.gr
More from Technology
How Big Are Amazon's Shipping Ambitions? Layoffs at XPO May Reveal Clues
Amazon is taking an increasingly aggressive stance in logistics and transportation, as recent reports from delivery giant XPO suggest. But Amazon's ambitions also carry some risks.
Daimler, BMW Throw In $1 Billion to Battle With Uber, Lyft
Daimler and BMW are putting more than $1 billion to work on pushing automotive technology forward.
Intel: 5G Chips Won't Show Up in Smartphones Until 2020
Intel execs say its 5G modem chips won't appear in consumer 'products in the market' until 2020, sparking questions about the timing of Apple's 5G iPhone.
Netflix Is Out to Show It's 'Part of the Zeitgeist' at Oscars
For Netflix and Amazon, garnering Academy Awards could mean a competitive advantage as streaming services vie for the top creative talent.
Nvidia Is Taking Fresh Steps to Boost its Sales to Gamers - Tech Check
The GPU giant just launched a new mid-range product that has done well in reviews. And it might be prepping a new high-end offering.