THE RESULTS: Alcatel-Lucent SA’s earnings improved in the third quarter, but the company scaled back its expectations for full-year earnings. Revenue shrank in the July-September period.
WHY DOWN?: The company says the poor economy was particularly hurting its business in Europe. The company cited Europe’s debt crisis creating uncertainty and slower sales even in China.
REDUCING EXPENSES: The company says that a drive to increase efficiency has started to pay off, but with economic conditions in Europe worse than anticipated, the cuts will continue.