Telefonica Profit Boosted by Currency Gains
May 11 2017 - 2:46AM
Dow Jones News
By Jeannette Neumann
MADRID--Telefonica SA (TEF) posted a 42% increase in
first-quarter net profit from a year earlier as the Spanish
telecommunications giant highlighted the positive impact of Latin
American currency fluctuations for the first time since early
2015.
The Madrid-based company said Thursday that net profit rose to
779 million euros ($846.89 million) from EUR548 million a year
earlier. The year-on-year results incorporate its U.K. business,
which previously had been up for sale.
Revenue was EUR13.13 billion, up 5% from a year earlier.
Operating income, excluding depreciation and amortization, was
EUR4.02 billion in the quarter compared with EUR3.8 billion.
Telefonica's net debt increased by EUR171 million in the first
quarter from the fourth quarter of 2016 to EUR48.77 billion.
-Write to Jeannette Neumann at jeannette.neumann@wsj.com
(END) Dow Jones Newswires
May 11, 2017 02:31 ET (06:31 GMT)
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