Telefonica: shares rise; guidance exceeds consensus
(CercleFinance.com) - Shares in Telefonica are up on Thursday after the Spanish telecoms giant reported 2018 organic growth and 2019 guidance that exceed the consensus.
Telefonica's net profit increased 6.4% in 2018 to 3.3 billion euros, on revenues that are up 2.4% in organic terms at 48.7 billion euros.
The company said its Spanish business reported organic growth in annual revenues for the first time in 10 years and posted "record profitability" in Brazil.
After meeting its 2018 targets, Telefonica issued a new guidance for 2019, saying that it expects organic growth of around 2% this year.
The share is currently up 0.9% at 7.7 euros in Madrid.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Telefonica's net profit increased 6.4% in 2018 to 3.3 billion euros, on revenues that are up 2.4% in organic terms at 48.7 billion euros.
The company said its Spanish business reported organic growth in annual revenues for the first time in 10 years and posted "record profitability" in Brazil.
After meeting its 2018 targets, Telefonica issued a new guidance for 2019, saying that it expects organic growth of around 2% this year.
The share is currently up 0.9% at 7.7 euros in Madrid.
Copyright (c) 2019 CercleFinance.com. All rights reserved.