Telefonica Q1 Profit Falls; Confirms FY Targets - Quick Facts

By RTT News, 
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(RTTNews.com) - Spanish telecom group Telefónica S.A. (TEF, TDE.L) Friday reported a significant drop in its first-quarter 2014 consolidated net income to 692 million euros, or 0.15 euros per basic share, from 902 million euros, or 0.20 euros per basic share, last year.

Revenues of 12.23 billion euros in January-March 2014, declined 13.5% on a reported basis from the prior-year quarter's 14.14 billion euros, while it was up 1.5% year-on-year in organic terms, posting positive growth for the fourth quarter in a row and accelerating versus full year 2013. Excluding the negative impact of regulation, organic revenue growth was 3.4%, versus last year.

Going forward, the company backed its financial and operating targets for 2014, including the dividend.

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This article appears in: Earnings

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