Telefónica profits and subs down
May 7, 2020
From David Del Valle in Madrid
The Covid-19 pandemic has taken a toll on Telefónica’s results. In the first quarter of the year, the company saw its profit fall by 56.2 per cent to €406 million, mainly due to the sharp fall in revenues in Latin America, above all in Brazil.
Total revenues fell by 5.1 per cent to €11.3 billion.
In Spain, its revenues declined by 1.6 per cent to €3 billion. Its pay TV service Movistar lost 41,500 customers in the first quarter versus the previous quarter to 4,032,300, albeit a 2 per cent rise year-on-year.
ARPU in convergent packages stood at €91.8, down 1.1 per cent year-on-year.
Other posts by :
- Eutelsat shares rebound
- Analyst: How disruptive could Starlink be?
- Bank: AST SpaceMobile has 2 year head start on Starlink
- SpaceX wraps IPO; 8,000 launches by 2030
- Markets braced for SpaceX IPO
- Former SpaceX exec to build ‘space taxis’
- Eutelsat shares crash despite good news
- Analyst: Years of subs growth ahead for Starlink