Telefónica Q4 in red as Latin American market tumbles

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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.

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Nicholas de Kramer

Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at [email protected]

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