Telefonica SA Q3 Profit Rises, Revenue Up 2.5% In Organic Terms; Confirms FY Guidance

(RTTNews) - Telefonica SA reported third quarter net income of 502 million euros, an increase of 9.3% from last year. Basic earnings per share increased 8.7% to 0.08 euros. In underlying terms, net income was 566 million euros. Underlying basic earnings per share was 0.09 euros compared to 0.02 euros.

Third quarter OIBDA was 3.33 billion euros, up 2.5%. Underlying OIBDA was 3.34 billion euros, up 1.5%. OIBDA-CapEX organic growth was 9.3%.

Third quarter revenue was 10.32 billion euros, a decline of 0.2%. In organic terms, revenue increased 2.5% driven by higher service revenues. Service revenue was up 3.1%.

The company said its results are on track to meet guidance for 2023.

Separately, Telefonica presented its 2023-2026 financial targets. Compound annual growth rate or CAGR will be around 1% for revenues; 2% for EBITDA; 5% for EBITDAaL-CapEx; and above 10% for cash flow generation. The company guarantees the payment of a minimum dividend of 0.30 euros per share for the period 2023-2026.

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