Telefonica SA (TEF.MC) said Thursday that net profit fell in the fourth quarter, in part as a result of unfavorable currency swings and restructuring costs.
The Spanish telecom said net profit fell to 610 million euros ($692.1 million) from EUR693 million a year earlier.
Telefonica booked EUR651 million in one-off costs in the quarter, including EUR262 million in restructuring costs and a EUR242 million writedown of goodwill associated with its Mexican business.
Revenue dropped to EUR12.92 billion from EUR13.16 billion, the company said. However, in organic terms revenue grew 3% in the quarter, the company said.
Analysts had forecast net profit of EUR813.7 million on sales of EUR12.46 billion, according to a FactSet-compiled consensus.
Operating income before depreciation and amortization fell 9.6% to EUR3.54 billion.
Telefonica declared a dividend of EUR0.40 a share, unchanged from 2018.
For 2019 Telefonica said it expects revenue and Oibda growth of around 2%.
Read Again Telefonica earnings fall on restructuring, forex - MarketWatch : https://ift.tt/2BOiZYeBagikan Berita Ini
0 Response to "Telefonica earnings fall on restructuring forex - MarketWatch"
Post a Comment