TEF Telefonica SA

   By Max Bernhard 
 

Telefonica SA (TEF.MC) on Tuesday reported a third-quarter loss after booking more than a billion euros in restructuring costs but backed its guidance for the year and said it would stick to its dividend policy.

The Spanish telecommunications company reported a quarterly net loss of 443 million euros ($494 million) compared with a profit of EUR1.14 billion in the same period last year.

Net profit took a EUR1.40 billion hit from restructuring costs, it said. Revenue in the quarter edged 1.7% higher to EUR11.90 billion.

Telefonica said operating income before depreciation and amortization fell to EUR2.75 billion from EUR4.04 billion.

Write to Max Bernhard at max.bernhard@dowjones.com; @mxbernhard

(END) Dow Jones Newswires

November 05, 2019 02:03 ET (07:03 GMT)

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