Telefonica 1st Half Net Profit Rose 2.8% on Higher Margins
25 July 2019 - 4:22PM
Dow Jones News
By Adria Calatayud
Telefonica SA (TEF.MC) said Thursday that first-half net profit
rose 2.8% as higher margins offset a revenue decline.
The Spanish telecommunications company said net profit for the
half year was 1.79 billion euros ($1.99 billion) compared with
EUR1.74 billion in the same period of 2018.
Revenue fell 0.9% to EUR24.12 billion compared with EUR24.33
billion a year earlier.
Group operating income before depreciation and amortization for
the first half was EUR8.70 billion, up 7.4% on year. Oibda margin
stood at 36.1% in the first half, up 2.8 percentage points on year,
the company said.
Telefonica's net debt as of June 30 stood at EUR40.23 billion,
EUR844 million lower than at the start of the year, but higher than
analysts' forecasts of EUR40.02 billion, according to a consensus
provided by the company.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
July 25, 2019 02:07 ET (06:07 GMT)
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