Share

Telefonica, net profit down 9% to 3,1 billion

| di | 0

In the first nine months of the year, the Spanish telecommunications company, which got its hands on Telecom, recorded a net profit of 3,145 billion, down 9% year on year, but still better than analysts' expectations – Down also revenues and operating profit.

Telefonica's first nine months of 2013 are on file, closing with weak performances, but better than analysts' expectations. The Spanish telecommunications company, which made headlines in Italy for its takeover of Telco and, consequently, of Telecom Italia, recorded a net profit of 3,145 billion euros in the period considered, down 9% on an annual basis.

Revenues fell by 8,4% to 42,626 billion, while operating profit before depreciation and amortization decreased by 10,7% to 14,1 billion euros. Telefonica is paying for the weak performance in the domestic and Latin American markets, but says it sees signs of stabilization in Europe. To cut debt, the company intends to sell its non-strategic assets. By mid-morning, the company's stock dropped about 0,7% in Madrid.

You might also be interested ...

comments