Telefonica Q1 results drop on forex, Czech sale

Friday 9 May 2014 | 08:29 CET | News
Telefonica reported first-quarter revenues down 13.5 percent from a year earlier to EUR 12.232 billion, hurt by negative exchange rate effects and the sale of its Czech operations. OIBDA was down 14.0 percent to EUR 3.929 billion, and net profit fell 23.2 percent to EUR 692 million. Excluding the forex effects and change in scope, the operator reported revenues up 1.5 percent and OIBDA 0.5 percent higher on organic basis. Telefonica reduced capital expenditure by 19.9 percent compared to the year-earlier quarter to EUR 1.555 billion, mainly due to lower spending on spectrum. Net debt was cut

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Categories: General
Companies: Telefonica
Countries: Europe / Latin America / Spain
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