Telefonica: Deutsche Bank downgrades stock
(CercleFinance.com) - On Thursday Telefonica confirmed its forecasts for 2023 after a good start to the year, which the group said was marked by a "difficult" global economic environment.
The Spanish telecoms operator this morning reported operating profit before depreciation and amortisation (OIBDA) of E3.1bn for Q1, flat as reported, although up 1.1% in organic terms.
Revenues increased by 6.7% to E10bn, mainly supported by growth of its revenues in Germany (+8%) and Brazil (+17.5%).
The Madrid-based group, which has been working to reduce its debt for several years now, said that over the quarter it had reduced its net debt by 3.5% to E26.4bn.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The Spanish telecoms operator this morning reported operating profit before depreciation and amortisation (OIBDA) of E3.1bn for Q1, flat as reported, although up 1.1% in organic terms.
Revenues increased by 6.7% to E10bn, mainly supported by growth of its revenues in Germany (+8%) and Brazil (+17.5%).
The Madrid-based group, which has been working to reduce its debt for several years now, said that over the quarter it had reduced its net debt by 3.5% to E26.4bn.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.