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.

Telefónica's results for the April-June period showed a 4.5% decrease in net profit, to € 862 million. If you consider the entire first semester, there was an increase of 2.8% to € 1.787 billion. The company based the decline in a negative impact of exchange rates, especially due to the depreciation of the Brazilian real and the Argentine peso against the euro: in the second quarter the currencies reduced the annual growth of income by 4.1 percentage points (pp).

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