Salem Radio Network News Sunday, August 7, 2022

Science

Spain’s Telefonica raises annual forecast, posts 320-million-euro Q2 profit

MADRID (Reuters) – Spanish telecom firm Telefonica on Thursday raised its annual revenue and earnings outlook and reported a net profit of 320 million euros ($326.50 million) for the second quarter.

The company’s core earnings came in at 3.15 billion euros, with overall revenue at 10.04 billion euros.

A company-provided consensus of analysts expected net profit of 333 million euros, core earnings of 3.06 billion and revenue of 9.58 billion.

The company said it now expects its 2022 revenue and core earnings growth to be “mid-to-high-end of the low single digit” rate from it previous outlook of “low single digit growth”.

($1 = 0.9801 euros)

(Reporting by Inti Landauro; Editing by Vinay Dwivedi)

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Bob Gorrell
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