NEW YORK – Nortel Networks Corp. on Tuesday forecast a 4 percent rise in 2007 first-quarter revenue and confirmed its full-year revenue forecast.
The company forecast first-quarter revenue of about $2.48 billion, above the consensus analysts’ estimate of $2.4 billion, according to Reuters Estimates.
It forecast full-year revenue to be flat to down slightly compared with 2006. Analysts are expecting revenue of about $11.33 billion, on average, according to Reuters Estimates.
Nortel also said it has appointed David Drinkwater as chief financial officer on an interim basis, effective May 1.