Investing.com - Telefonica (NYSE:TEF) reported on Thursday first quarter earnings that missed analysts' forecasts and revenue that topped expectations.
Telefonica announced earnings per share of €0.11 on revenue of €9.41B. Analysts polled by Investing.com anticipated EPS of €0.12 on revenue of €9.12B.
Telefonica shares are up 25% from the beginning of the year, still down 3.67% from its 52 week high of €5.00 set on April 19. They are outperforming the S&P Global 100 which is down 14.71% from the start of the year.
Telefonica shares gained 3.42% in intra-day trade following the report.
Telefonica follows other major Communication Services sector earnings this month
Telefonica's report follows an earnings missed by Cellnex Telecom on April 27, who reported EPS of €-0.14 on revenue of €828M, compared to forecasts EPS of €-0.08 on revenue of €830.33M.
Atresmedia had matched expectations on April 28 with first quarter EPS of €0.1309 on revenue of €208.95M, compared to forecast for EPS of €0.1309 on revenue of €209M.
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