Telefonica Swings to 4Q Net Profit, Sees Revenue Stabilization in 2021
February 25 2021 - 02:16AM
Dow Jones News
By Adria Calatayud
Telefonica SA said Thursday that it swung to a fourth-quarter
net profit, as revenue recovered across its four core markets, and
said it expects a stabilization of revenue this year.
Net profit for the fourth quarter was 911 million euros ($1.11
billion) compared with a loss of EUR202 million for the same period
a year before, the Spanish telecommunications company said.
Revenue for the quarter fell 12% to EUR10.91 billion, due to the
impact of the coronavirus pandemic and foreign-exchange effects. On
an organic basis, revenue was down 2%.
Telefonica's quarterly operating income before depreciation and
amortization rose 2.2% to EUR3.75 billion due to special items that
dragged down its performance in the year-earlier period. The
company said it expects a stabilization of Oibda in 2021.
Analysts expected Telefonica's fourth-quarter revenue to be
EUR10.79 billion and Oibda to be EUR3.58 billion, according to a
consensus provided by FactSet and based on estimates by nine and
seven analysts respectively.
The board said it will pay a second tranche of its 2020 dividend
of EUR0.20 a share, and that it plans to declare a 2021 dividend of
EUR0.30 a share.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
February 25, 2021 02:01 ET (07:01 GMT)
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