PARIS (AP) — Alcatel-Lucent said Thursday its net profit surged in the fourth quarter compared with a year earlier thanks to rising demand for broadband networks across the globe.
The French-U.S. telecommunications equipment maker reported net profit of €340 million ($464 million) for the October-December quarter, up from only €46 million a year earlier.
Sales rose 23 percent to €4.9 billion, boosted by demand from phone companies who are upgrading their networks to cope with growing demand for smart phones such as the iPhone and BlackBerry.
The company said adjusted operating margin, its preferred measure for profitability, will rise to above 5 percent this year, …
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