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| Name | Symbol | Market | Type |
|---|---|---|---|
| Telefonica SA | NYSE:TEF | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.06 | 1.33% | 4.56 | 4.57 | 4.54 | 4.56 | 530,632 | 01:00:00 |
From May 2019 to May 2024
By Nathan Allen
Telefonica SA (TEF.MC) said Thursday that net profit fell in the fourth quarter, in part as a result of unfavorable currency swings and restructuring costs.
The Spanish telecom said net profit fell to 610 million euros ($692.1 million) from EUR693 million a year earlier.
Telefonica booked EUR651 million in one-off costs in the quarter, including EUR262 million in restructuring costs and a EUR242 million writedown of goodwill associated with its Mexican business.
Revenue dropped to EUR12.92 billion from EUR13.16 billion, the company said. However, in organic terms revenue grew 3% in the quarter, the company said.
Analysts had forecast net profit of EUR813.7 million on sales of EUR12.46 billion, according to a FactSet-compiled consensus.
Operating income before depreciation and amortization fell 9.6% to EUR3.54 billion.
Telefonica declared a dividend of EUR0.40 a share, unchanged from 2018.
For 2019 Telefonica said it expects revenue and Oibda growth of around 2%.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
February 21, 2019 02:02 ET (07:02 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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