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General

Telefonica Q2 sales plunge 11% in Latin America on heavy Covid-19 and forex impact

Thursday 30 July 2020 | 09:52 CET | News
Telefonica said its operations in Latin America were heavily impacted by the Covid-19 pandemic and weak local currencies in the second quarter of 2020, with revenues plunging 10.8 percent on an organic basis and 28.0 percent on a reported basis to EUR 1.89 billion, compared to EUR 2.61 billion a year earlier. The newly-combined Telefonica Hispam unit comprises all of Telefonica's Latin American subsidiaries, with the exception of Brazil, and is being spun off as part of a wide-ranging restructuring plan announced last November.

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Categories: General
Companies: Telefonica
Countries: Latin America
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