Spanish broadband and telecoms group Telefonica saw net profit fall by over a half in the first quarter after struggles in its home market.
Net profit dropped 53.9% to €748m in the first three months of the year, although the firm indicated that the figure comes in at €1.28bn "in underlying terms". Analysts expected €1.11bn in profit.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The company once again noted the strength in Latin America "that is driving growth for the group accounting for 48% of consolidated revenues and accelerating its revenue growth up to 8.3% year-on-year."
It also pointed out that mobile data revenue had a "strong" performance after registering 15.4% growth.
JM
-
The best and worst performing UK stocks of 2025 as FTSE 100 approaches record yearThe blue-chip index is heading for another top year despite investors steering clear of UK equity funds
-
Which sectors are best to invest in for 2026?Investment trust portfolio managers give their views on the sectors and regions they expect to outperform in 2026.
