Spanish telecommunication group Telefónica S.A. (TEF, TDE.L) posted a 20.6% rise in first-quarter net income to 902 million euros, from 748 million euros a year ago, with basic earnings per share growing 22.2% year-over-year to 0.20 euros, from 0.16 euros. In underlying terms, net profit totaled 1.07 billion euros and basic earnings per share stood at 0.24 euros, the company said.
Quarterly operating income before depreciation and amortisation or OIBDA reached 4.57 billion euros, virtually unchanged in organic terms compared with the same period of 2012, but down by 10.1% on a reported basis.
Revenues for the quarter were 14.14 billion euros, compared with last year's 15.51 billion euros, down 8.8% on a reported basis, and by 1.6% on an organic basis. Net debt stood at 51.81 billion euros at the end of the quarter and included both non-recurring, and seasonal impacts.
In addition, the company said its first-quarter results are in line with its internal estimates, allowing it to reiterate financial and operating targets for 2013.
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