Alcatel Q3 Revs Drop 9.3%; Stock Tumbles

Alcatel-Lucent (ALU) shares are down sharply this morning after the telecom equipment company reported another rough quarter.

For the quarter, Alcatel posted revenue of 3.687 billion Euros, or about $5.47 billion, a bit below the Street at $5.62 billion, down 9.3% from a year ago, and off 5.6% sequentially. The company lost 182 million Euros in the quarter. Marketwatch notes that the company posted an 11 million Euro adjusted operating loss, falling short of the Street estimate of an 8 million Euro profit.

The company also reported its previous forecast for break-even adjusted operating income for the full year. Alcatel says it continues to see the global telecom equipment and related services market down 8%-12% in constant currency this year.

ALU this morning is down 31 cents, or 7.4%, to $3.86.