Swisscom has recorded a dip in net revenue for the three months ending June 2011, shrinking year-on-year by 4.4% to CHF2.86 billion (USD3.846 billion). Operating income for Q2 2011 was reported as CHF678 million, a decrease of 8.5% compared to Q2 2010. EBITDA also fell to CHF1.144 billion from CHF1.230 billion the previous year. CAPEX increased to CHF487 for the April-June period, up from CHF422 million the previous quarter. Net income for Q2 2011 fell year-on-year by 1.8% to CHF488 million. Swisscom attributed the drop in profits to price erosion and increased spending on network upgrades.