Telefónica Q1 Net Income Rises; Revenues Up 1.9% In Organic Terms - Quick Facts

(RTTNews) - Telefónica (TDE.L, TEF) reported that its first-quarter profit to shareholders increased to 837 million euros from 779 million euros, prior year. Earnings per share was 0.12 euros compared to 0.14 euros. Underlying earnings per share was 0.17 euros compared to 0.18 euros. Operating income before depreciation and amortisation (OIBDA) amounted to 3.86 billion euros in the first quarter (down 3.9% year-over-year). In organic terms, OIBDA rose 3.3% in the quarter. Excluding the impact of regulation, OIBDA would have grown by 5.4% in organic terms.

Revenues in the quarter stood at 12.19 billion euros, down 7.2% from last year; up 1.9% organic. The company said revenues grew on the back of the strong pace of growth of handset sales (up 16.5%) and the positive performance of service revenues (up 0.8%). The company noted that, excluding the negative impact of regulation, revenues would have risen 3.1% year-over-year organic in the first quarter. The customer base stood at 356.9 million accesses at March 2018 (down 1% year-over-year) and included 14.8 million in wholesale mobile accesses.

José María Álvarez-Pallete, Executive Chairman of Telefónica, said: "Revenues, OIBDA and operating cash flow grew organically and net debt continued to decrease. This quarter's results are in line with our expectations and allow us to reiterate our objectives set for the year."