Italy's Poste tops second quarter profit forecasts despite higher costs

Telecom Italia

24/07/2026 06:56

MILAN, July 24 (Reuters) - Italian financial conglomerate Poste Italiane PST.MI, whose cash-and-share offer to buy former phone monopoly Telecom Italia TLIT.MI started on Monday, said it would present early next year a strategic plan for the combined entity.    
Poste reported an adjusted operating profit of €868 million  ($987.87 million) for the second quarter, little changed from a year earlier and above an €841 million forecast in an analyst consensus compiled by the company.
Revenues rose 4% year-on-year in the three months through June to €3.4 billion, just ahead of a €3.3 billion average analyst forecast.
Poste's mail and parcel business revenue rose 7% in the period, broadly in line with the forecast.
Insurance services revenue was up 11% in April-June, ahead of expectations.
Financial services revenue declined 1.6% year-on-year to €1.4 billion, in line with analyst forecasts.
Poste said costs were up 3.4% year-on-year in the second quarter to €2.8 billion, driven by non-personnel related costs linked to a business expansion push. That is ahead of a €2.5 billion average analyst forecast.    


($1 = 0.8787 euros)

 (Reporting by Valentina Za, editing by Giulia Segreti)
 ((valentina.za@thomsonreuters.com; +39 02 6612 9526;))