Telefonica: shares slip after in-line results
(CercleFinance.com) - Spain's Telefonica reiterated its guidance for 2019 on Friday as average revenue per customer accelerated in the first quarter.
The Madrid-based telecom company posted quarterly net profit of 926 million euros for the first three months of the year, up 11% year-on-year.
Its "OIBDA" (operating income before depreciation and amortisation) rose by 10% to 4.3 billion euros (+1% in organic terms), in line with analysts' forecasts.
Revenues decreased by 1.7% to 12 billion euros, but were up 3.8% in organic terms, the group said.
"The first quarter results showed a significant improvement in revenue growth trends and double-digit growth in net income and earnings per share," said CEO Jose Maria Alvarez-Pallete.
As net debt decreased for the 8th consecutive quarter, Telefonica reiterated its guidance and dividend for 2019.
However, these numbers failed to convince investors, with the Telefonica share down 0.8% in Madrid this morning.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The Madrid-based telecom company posted quarterly net profit of 926 million euros for the first three months of the year, up 11% year-on-year.
Its "OIBDA" (operating income before depreciation and amortisation) rose by 10% to 4.3 billion euros (+1% in organic terms), in line with analysts' forecasts.
Revenues decreased by 1.7% to 12 billion euros, but were up 3.8% in organic terms, the group said.
"The first quarter results showed a significant improvement in revenue growth trends and double-digit growth in net income and earnings per share," said CEO Jose Maria Alvarez-Pallete.
As net debt decreased for the 8th consecutive quarter, Telefonica reiterated its guidance and dividend for 2019.
However, these numbers failed to convince investors, with the Telefonica share down 0.8% in Madrid this morning.
Copyright (c) 2019 CercleFinance.com. All rights reserved.