Telefonica Deutschland lifted by new subscribers in Q3

BERLIN, Oct 28 (Reuters) - Telefonica Deutschland O2Dn.DE reported solid third-quarter results on Wednesday, supported by the addition of 308,000 postpaid clients and low churn rates as its network investments paid off.

Core profits rose by 0.8% to 595 million euros ($703 million) even after stripping out a windfall of 407 million euros from the sale of infrastructure assets, the unit of Spain's Telefonica TEF.MC said in a statement.

Revenue was ahead by 0.4% despite headwinds from the coronavirus pandemic, enabling the operator of the O2 brand to confirm its guidance for flat to slightly positive revenue growth and broadly stable to slightly positive profits in 2020.

($1 = 0.8461 euros)

(Reporting by Douglas Busvine Editing by Riham Alkousaa)

((douglas.busvine@tr.com; +49 30 220 133 562;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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