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Telefonica 4Q net profit up 2.3 percent on growth in Latin America, Spain

Telefonica 4Q net profit up 2.3 percent on growth in Latin America, Spain

Telefonica SA's net profit rose 2.3 percent in the fourth quarter ending Dec. 31, boosted by growth in key Latin American and Spanish divisions, the company said Thursday.
Madrid-based Telefonica, the largest telecommunications company in Spain and Latin America, said net profit rose to euro1.06 billion (US$1.59 billion) from euro1.04 billion a year earlier.
Operational income before depreciation and amortization, or OIBDA, was euro4.58 billion (US$6.89 billion) for the period, also up 2.3 percent from euro4.48 billion. OIBDA is Telefonica's preferred measure of profitability.
Revenue increased 1.6 percent to euro14.43 billion (US$21.71 billion) from euro14.20 billion in the same period last year.
Net profit for the year was at euro8.91 billion (US$13.4 billion), up 42.9 percent from euro6.23 billion. Sales for 2007 rose 6.7 percent from euro52.90 billion to euro56.44 billion (US$84.91 billion).
Telefonica also said it expects revenue growth in 2008 to be between 6 and 8 percent compared with last year, and OIBDA growth to be between 7.5 and 11 percent.
Operating income is set to rise between 13 and 19 percent, and the company said it has earmarked euro8.6 billion (US$12.94 billion) in capital expenditure for the period.
Shares were up 0.4 percent at euro19.71 (US$29.65).


Updated : 2021-05-07 19:36 GMT+08:00