IBEX


Spanish Telefonica Q1 results

Telefonica Earns 779 M€ In Q1’17 Thanks To Brazil; Spain Disappoints

Telefonica’s  net profit rose 42.2% to 779 million euros in the first quarter of 2017 from a year earlier. The 2016 results were reformulated mid-last year after the group decided to stop presenting its UK subsidiary O2 as a discontinued operation. Revenues from its Brazil and Latin American operations were the main earnings driver.