Telefonica Q2 Underlying Profit Declines; Revenue Up 3.3% In Organic Terms

(RTTNews) - Telefonica (TDE.L, TEF) reported that its second quarter profit to equity holders of the parent company increased 44.5% to 462 million euros, from prior year. Basic earnings per share was up 51.9% to 0.07 euros. In underlying terms, net income was 426 million euros, down 4.5%. Underlying EPS was 0.06 euros, down 5.9% from previous year.

Revenue grew 0.9% to 10.13 billion euros. In organic terms, revenue increased 3.3%, with service revenue up 3.4% up and handset sales up 2.3%, for the quarter.

The company upgraded 2023 guidance, from "low single-digit growth" at both revenues and OIBDA to approximately 4% revenue growth and approximately 3% OIBDA growth.

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