Phoenix Tower International
Thursday, May 07, 2020

Telefónica's revenues fell 5.1% in the first quarter due to the drop in Brazil's turnover

The company spoke of the limited impact of the coronavirus pandemic on its performance from January to March. Added revenue of €11.366 billion, affected by the 13.6% drop in the Brazilian operation: DTH's revenues decreased 38.7%, fixed voice revenues by 18.9% and handset sales 2.9%. Net profit fell 56.2%.

Telefónica's financial results for the first quarter do not yet show a severe impact of the health emergency. The company had revenues of €11.366 billion, a decrease of 5.1% year-on-year that is based on the drop in sales in Brazil and the unfavorable exchange rate of the real. Telefónica's net profit reached €406 million, 56.2% less than a year ago, as a result of the performance in Brazil and Latin America (with a drop in income of 8.4%).

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