The Spanish telecom group Telefónica suffered a loss in the fourth quarter of 2019 against a profit a year earlier. The company had to deal with, among other things, depreciation in Latin America and restructuring costs.
The net loss amounted to 202 million euros against a profit of 610 million euros a year earlier. Turnover fell to 12.4 billion euros from 12.9 billion euros in the same period in 2018. Telefónica expects revenue to grow in the coming years.