© Reuters. FILE PHOTO: The logo of Spanish Telecom company Telefonica is seen at its headquarters in Barcelona, Spain, May 12, 2022. REUTERS/Nacho Doce
MADRID (Reuters) – Spanish telecom firm Telefonica (NYSE:) said on Thursday its first-quarter net profit fell 58% from the same period a year earlier, although at 298 million euros ($328 million) still beating expectations.
Overall revenues rose 6.7% to 10.05 billion euros, the company also said, while core earnings fell 2.4% to 3.12 billion euros.
A company-provided consensus of analysts expected net profit of 279 million euros, revenues of 9.74 billion euros and core earnings of 3.08 billion euros.
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