Telefonica Q3 Profit Slides; Backs Targets - Quick Facts

(RTTNews) - Spanish telecom group Telefónica S.A. (TEF, TDE.L) reported a 21.1 percent drop in third-quarter net income to 1.09 billion euros, from 1.38 billion euros a year before. Quarterly basic earnings per share of 0.24 euros, were 22 percent lower than 0.31 euros in the prior-year quarter.

On a reported basis, operating income for the period decreased 12.5 percent year-over-year to 2.37 billion euros, from 2.71 billion euros.

The company clocked revenues of 14.06 billion euros in the quarter, compared with last year's 15.54 billion euros, down 9.5 percent on a reported basis. However, third-quarter organic revenue growth improved by 2.1% year-on-year, on the back of strong acceleration in Latin America and sustained improving trends in Europe.

In addition, the firm confirmed its financial and operating targets, and the dividends set for 2013.