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6 Months : From Jun 2018 to Dec 2018
By Nathan Allen
Telefonica SA (TEF.MC) said Thursday that its second-quarter net profit rose, despite a slight drop in revenue.
Net profit at the telecom operator was 902 million euros ($1.06 billion) compared with EUR821 million a year earlier, while reported revenue edged down 6.3% to EUR12.14 billion from EUR12.96 billion, the company said.
Analysts had predicted profit of EUR892 million on revenue of EUR12.05 billion, according to a company-compiled consensus.
Operating income before depreciation and amortization, or Oibda, was EUR4.24 billion up from EUR4.16 billion, the company said.
Telefonica said net income took a EUR60 million hit from an impairment in Mexico, while its Oibda received a EUR225 million boost from a favorable court ruling in Brazil.
"These results allow us to reiterate our guidance and dividends for 2018," Executive Chairman Jose Maria Alvarez-Pallete said.
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(END) Dow Jones Newswires
July 26, 2018 02:02 ET (06:02 GMT)
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