je.st
news
Telefonica Q2 sales plunge 11% in Latin America on heavy Covid-19 and forex impact
2020-07-30 09:52:00| Telecompaper Headlines
(Telecompaper) Telefonica said its operations in Latin America were heavily impacted by the Covid-19 pandemic and weak local currencies in the second quarter of 2020, with revenues plunging 10.8 percent on an organic basis and 28.0 percent on a reported basis to EUR 1.89 billion, compared to EUR 2.61 billion a year earlier. The newly-combined Telefonica Hispam unit comprises all of Telefonica's Latin American subsidiaries, with the exception of Brazil, and is being spun off as part of a wide-ranging restructuring plan announced last November.
Tags: sales
america
impact
heavy
Category:Telecommunications