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Telefonica Q2 results hit by Covid-19, forex effects, revenues fall 15%

2020-07-30 09:14:00| Telecompaper Headlines

(Telecompaper) Telefonica reported a sharp fall in second-quarter results, hurt by the Covid-19 pandemic and negative forex effects. Revenues fell 14.8 percent to EUR 10.34 billion, OIBDA was down 25.3 percent to EUR 3.32 billion, and net profit plunged 50.7 percent to EUR 425 million. Telefonica said underlying cash flow improved slightly, thanks to efforts to control costs and accelerate the digital transformation, and the company still expects to meet its full-year cash flow and dividend targets. 

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Category:Telecommunications

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