Telefonica H1 Profit Falls On Lower Revenue

(RTTNews) - Telefonica (TDE.L, TEF), on Thursday, reported first-half profit attributable to equity holders of the Parent of EUR 1.03 billion compared to EUR 8.63 billion last year.

On a per share basis, basic earnings plunged 29.2% to EUR 0.18 per share from EUR 0.26 per share in the prior year period.

Revenue for the period dropped 4.2% to EUR 19.5 billion from EUR 20.3 billion generated a year ago.

José María Álvarez-Pallete, Chairman and CEO of Telefónica, said: "We are pleased to report improved growth momentum as we continue to leverage opportunities in our markets and deliver towards our strategy focused on value creation. During the second quarter of the year we successfully launched miMovistar portfolio in Spain; Oi assets have been already integrated in Brazil, further strengthening our leadership; we are accelerating investments in UK digital infrastructure and returned to revenue growth for VMO2 in its first year on integration, whilst commercial and financial momentum remains intact in Germany."