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General

Telefonica cuts Argentina 9-mth sales by EUR 625 mln due to hyperinflation

Wednesday 10 October 2018 | 10:54 CET | News
Telefonica has significantly reduced its sales and profit expectations in Argentina due to the country's hyperinflation, reports El Economista, citing a document released to investors. Rising prices will reduce the company's core profit in Argentina by EUR 215 million in the year to September, while the group's net revenues will fall by EUR 625 million and capex by EUR 115 million.

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Categories: General
Companies: Telecom Argentina / Telefonica
Countries: Argentina / Spain
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