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Telefonica Q1 Profit Rises, Organic Revenue Growth At 3.8%; Affirms Guidance

Telefonica (TDE.L,TEF) said its first-quarter results showed a significant improvement in revenue growth trends and double-digit growth in net income and earnings per share. Looking forward, the company reiterated its guidance and dividend announced for 2019.

For the first-quarter, profit attributable to ordinary equity holders of the parent company was 926 million euros, a 10.6% year-on-year increase. Earnings per share was 0.16 euros compared to 0.12 euros. In underlying terms, net income was 971 million euros, up 1.1% from prior year. Underlying earnings per share was 0.18 euros compared to 0.17 euros.

For the first-quarter, revenues were 11.98 billion euros, down 1.7% from prior year due to the currency depreciation effect. Organic revenue growth was 3.8%, for the quarter.

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