Telefonica's Revenue, Earnings Beat Forecasts
By Mauro Orru
Telefonica posted revenue and earnings above analysts' expectations for the second quarter.
The Spanish telecommunications group booked nearly 10.26 billion euros ($11.10 billion) in revenue in the three months to the end of June, up 1.2% on year.
Net profit slipped to EUR447 million from EUR462 million a year earlier. Earnings before interest, taxes, depreciation, and amortization--a closely watched measure of profitability--increased 2.4% to EUR3.22 billion.
Analysts had forecast revenue of EUR10.05 billion on a net profit of EUR336 million and Ebitda of EUR3.17 billion, according to a market consensus provided by the company.
For the year, Telefonica still expects growth of around 1% in revenue and growth in earnings before interest, taxes, depreciation and amortization of 1% to 2%.
Write to Mauro Orru at mauro.orru@wsj.com
(END) Dow Jones Newswires
July 31, 2024 01:57 ET (05:57 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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