Thursday, May 11, 2023

Telefónica improves its revenues, but substantially reduces its profits in first quarter

The global operator billed 10.045 billion euros, 6.7% more than a year ago, but below annual inflation in the euro area, which was 6.9% in the same period. Profits fell 58%. The operator highlighted its progress in the deployment of the 5G network in various markets, as well as with FTTH.

Telefónica said it remains on track to meet its financial targets for fiscal year 2023 after it recorded net profit in the first quarter of 2023 that was sharply lower than a year ago, despite an improvement in total revenue.

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