Movistar lost 60,000 subscribers in the second quarter with convergent subscriptions also going down, 1,000 versus June last year. ARPU, though, grew by 1.5 per cent year-on-year to €91.5 whereas churn rate has improved, standing at 0.9 per cent.

As a whole, Telefónica increased its profit by 44.5 per cent in the second quarter although in six months it had a 25.9 per cent less to €760 million than the same period las year.

It improved its forecast for full-year results after solid growth in Q2. Revenues rose 0.9 per cent year-on-year to €10.1 billion in Q2, and net profit jumped 44.5 per cent to €462 million, supported by affiliates in the UK and Brazil.

Over the full year, Telefónica now expects around 4 per cent organic growth in revenue and 3 per cent higher OIBDA, compared to a previous outlook for low single-digit growth. Over the first half of the year, the growth figures were respectively 4.1 pr cent and 2.3 per cent.

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