Alcatel-Lucent reported a net loss of $460 million in the first quarter, after posting a profit a year earlier, while revenue rose 0.6% to $4.2 billion. New CEO Michel Combes is conducting a strategic review of operations to stop the red ink. "We are actively reviewing the group's businesses and operating model to design the conditions for value creation in the future," he said in a statement, adding that the results will likely be unveiled in "early summer."

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