Arab Today, arab today telefonica first quarter profit jumps on o2 sale
Last Updated : GMT 16:38:17
Arab Today, arab today
Arab Today, arab today

Telefonica first quarter profit jumps on O2 sale

Arab Today, arab today

Arab Today, arab today Telefonica first quarter profit jumps on O2 sale

Spain's Telefonica
Madrid - AFP

Spain's Telefonica, Europe's second-largest phone company, said Thursday its net profit more than doubled in the first quarter thanks to a one-off financial boost from the sale of its British unit O2.

The carrier posted a forecast-beating net profit in the period of 1.8 billion euros ($2.0 billion) up from 688 million euros during the same time last year.  

Analysts contacted by financial information services provider Factsheet had predicted a first quarter result of 669 million euros.

Telefonica in March sold British telecom giant O2 to Hong Kong group Hutchison Whampoa for 14 billion euros.

Proceeds from the sale of O2 have been largely earmarked to reduce Telefonica's debt pile which stood at 45.6 billion euros at the end of March.

The company, with operations across Europe and Latin America, said its sales rose 12.6 percent to 11.54 billion euros as growth in Germany offset weakness in Brazil and a further contraction of its domestic market.

Revenues in Germany jumped 69.4 percent thanks to the acquisition of E-Plus and a "significantly higher contribution of handset revenues", it said in a statement.

Revenues in Spain, which is struggling with a jobless rate of 23.8 percent, fell 3.8 percent while in Brazil they inched up by 4.8 percent.

Brazil, Germany and Spain account for 66 percent of Telefonica's sales.

Shares in Telefonica fell 0.75 percent to 13.20 euros in early morning trade while the Ibex-35 index of most trade Spanish shares was flat, down 0.05 percent.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today telefonica first quarter profit jumps on o2 sale Arab Today, arab today telefonica first quarter profit jumps on o2 sale

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today telefonica first quarter profit jumps on o2 sale Arab Today, arab today telefonica first quarter profit jumps on o2 sale

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today A no-frills business success

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel sees benefits in independent Kurdistan

GMT 07:58 2017 Wednesday ,20 September

Israel sees benefits in independent Kurdistan
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Horia Farghaly happy for success of “Case G”

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:26 2017 Wednesday ,20 September

Opioid overdose deaths take 2.5 months

GMT 11:40 2017 Monday ,18 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday