Trending: Telefonica Sees 2023 on Track

1330 GMT - Telefonica is among the most mentioned companies across news items over the past 12 hours, according to Factiva data. The Spanish telecommunications company said first-quarter results leave it on track to meet its targets for 2023. Telefonica said revenue grew 6.7% in the first quarter to 10.045 billion euros ($11.03 billion), but higher energy costs and staff expenses contributed to a 2.4% drop in operating income before depreciation and amortization--a closely watched metric--to EUR3.12 billion. Both metrics beat analysts' expectations of EUR9.74 billion and EUR3.08 billion, respectively, according to a company-provided consensus. On an organic basis, Telefonica's first-quarter revenue was up 4.9% and operating income before depreciation and amortization was up 1.1%, which the company said is in line with its 2023 guidance for low single-digit growth in both metrics. Dow Jones & Co. owns Factiva. (adria.calatayud@dowjones.com)

(END) Dow Jones Newswires

May 11, 2023 09:45 ET (13:45 GMT)

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