Telefonica 3Q Net Profit Fell Amid Debt Reduction
October 26 2017 - 2:46AM
Dow Jones News
By Marc Navarro Gonzalez and Marc Bisbal Arias
Telefonica SA (TEF.MC) said Thursday that its third-quarter net
income fell compared with the year-earlier period as it made some
progress chipping away part of its debt pile.
Net profit fell by 14.7% to 839 million euros ($992.5 million)
from EUR983 million a year earlier. The year-on-year results
incorporate its U.K. business, which previously had been up for
sale.
Revenue was EUR12.75 billion, down 2.5% from a year earlier.
Operating income before depreciation and amortization decreased
1.9% to EUR4.1 billion.
Telefonica's net debt decreased by EUR1.27 billion in the third
quarter from the second quarter of 2017 to EUR47.22 billion. The
reduction was helped by a strong free cash-flow generation from the
period from January to September--which marked a 39% increase
year-on-year, the company said.
The Spanish telecommunications giant also said debt will be
further reduced by an additional EUR1.28 billion in the fourth
quarter after the closing of a 40% stake in Telxius sale.
The company also reiterated its 2017 guidance and dividend.
Write to Marc Navarro Gonzalez at
marc.navarrogonzalez@dowjones.com and Marc Bisbal Arias at
marc.bisbalarias@dowjones.com
(END) Dow Jones Newswires
October 26, 2017 02:31 ET (06:31 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
Telefonica (NYSE:TEF)
Historical Stock Chart
From Mar 2024 to Apr 2024
Telefonica (NYSE:TEF)
Historical Stock Chart
From Apr 2023 to Apr 2024