Telefonica Q1 Profit Down, OIBDA Margin Flat; Reiterates FY16 View - Quick Facts

(RTTNews) - Spainish telecom group Telefonica SA (TDE.L, TEF) reported Friday that its fist-quarter net income declined 57 percent to 776 million euros or 0.14 euros per share from 1.80 billion euros or 0.37 euro per share a year ago.

On a continuing operations basis, profit fell 15.2 percent to 406 million euros and earnings per share were 0.07 euro, down 27.8 percent from last year.

OIBDA, a key earnings metric, dropped 6.7 percent to 3.376 billion euros. Margin was maintained at 31.3 percent.

Revenues declined 6.6 percent to 10.784 billion euros from 11.543 billion euros last year, but increased 3.4% on an organic basis.

The company said its first quarter results are in line with expectations for the year end and enable it to reiterate guidance and the 0.75 euros per share dividend for 2016.

For the year, the company continues to expect revenue growth of above 4 percent an OIBDA margin stabilizing versus 2015.