VimpelCom Q1 Profit Down - Quick Facts

(RTTNews) - VimpelCom Ltd. (VIP), a provider of telecommunications services, Wednesday reported a decrease in net earnings as well as revenues for the first quarter.

For the three months to March, net earnings attributable to the company's shareholders plunged to $39 million from $408 million in the corresponding period last year. Basic earnings per share decreased to $0.02 from $0.25 a year ago.

EBITDA stood at $2.09 billion, compared with $2.35 billion in the same quarter last year.

Revenue for the 3-month period declined by 10 percent to $5.02 billion from $5.59 billion a year earlier. On an organic basis, revenue decreased by 5 percent mainly reflecting operational performance in Russia and continued market weakness in Italy.

Total mobile customers increased by 3 percent to 218 million from last year.