Convergencia Research, Consultoría especializada en Latinoamérica y Caribe
Thursday, July 25, 2019

Telefónica's net profit fell 4.5% between April and June

The company reported a net profit of € 862 million for the second quarter. The results were affected by the evolution of exchange rates, mainly due to the depreciation of the Argentine peso and the Brazilian real against the euro; and due to the adjustment for inflation in Argentina. The total access base was reduced by 6.8 million accesses due to the sale of Telefónica Nicaragua, Guatemala and Antares. Net debt decreased for the ninth consecutive quarter and reached € 40.23 billion at the end of June.


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