- Telefonica (NYSE:TEF) is 4.4% lower in NYSE trading after a Q1 miss despite profits that rose nearly 5%.
- Revenues of €13.13B were down 4.3% sequentially but rose 5% Y/Y amid price increases in the company's major markets.
- OIBDA hit €4.02B, up 4.8% Y/Y on stable margins.
- The company pointed to improved quality in its customer base, with LTE customers up 1.7 times, smartphones up 18% and FTTx/cable up 21%.
- In regional results, revenue fell 2.6% to €3.07B in its key Spanish market on lower service revenues (-1.5%) and lower handset sales (-29.9%). OIBDA there was down 2.4%. In Germany, revenues fell 4.7% to €1.77B. Meanwhile, in the UK, revenues were up 2.1% to €1.6B, and revenues for Telefonica Brasil rose 1.6% to €3.17B.
- Free cash flow -- a turnaround focus for Chairman José María Álvarez-Pallete -- jumped to €599M from a year-ago €69M.
- Press Release
- Now read: Telefonica S.A. 2017 Q1 - Results - Earnings Call Slides
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