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Telefónica: Movistar subs down

July 27, 2023

From David del Valle in Madrid

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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