Telefonica Profit Jumps in 4Q Despite Revenue Fall

Date : 02/22/2018 @ 3:08AM
Source : Dow Jones News
Stock : Telefonica Sa (TEF)
Quote : 9.05  -0.11 (-1.20%) @ 4:02PM

Telefonica Profit Jumps in 4Q Despite Revenue Fall

Telefonica (NYSE:TEF)
Historical Stock Chart

6 Months : From Nov 2017 to May 2018

Click Here for more Telefonica Charts.
   By Marc Navarro Gonzalez 
 

Telefonica SA (TEF.MC) said Thursday that its profit more than tripled in the fourth quarter despite a 4.1% decrease in revenue.

Telefonica said net profit rose to 693 million euros ($853.6 million) from EUR145 million the same period last year. Revenue fell to EUR13.16 billion from EUR13.72 billion. Operating income before depreciation and amortization, or Oibda, rose 23% to EUR3.91 billion.

The company said net financial expenses in the quarter grew 28% to EUR470 million, mainly due to the steep devaluation of the Venezuelan bolivar.

The Spanish telecommunications giant said net debt decreased by EUR2.99 billion in the fourth quarter, helped by free cash generation of EUR1.72 billion and the closing of a sale of a 40% stake in telecommunications infrastructure company Telxius. As of December 2017, Telefonica's net debt was EUR44.23 billion.

Telefonica said it sees revenue growing about 1% in 2018 and Oibda margins expanding about 0.5 percentage points on year.

 

Write to Marc Navarro Gonzalez at marc.navarro@dowjones.com

 

(END) Dow Jones Newswires

February 22, 2018 02:53 ET (07:53 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.

Latest TEF Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.