TEF Telefonica SA

   By Giulia Petroni 
 

Telefonica SA said Thursday that profit and revenue fell in the first quarter, but that it is on track to meet its full-year targets.

The Spanish telecommunication company said quarterly net profit was 706 million euros ($743.9 million) compared with EUR886 million a year earlier.

Revenue decreased to EUR9.41 billion from EUR10.34 billion.

Operating income before depreciation and amortization, or Oibda, came in at EUR3.20 billion from EUR3.42 billion, with its corresponding margin at 34%, the company said.

Telefonica said results are in line with management's expectations and the company confirmed full-year guidance and a cash dividend of EUR0.30 a share for 2022.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

May 12, 2022 02:09 ET (06:09 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.