Telefónica, Spain, grew revenue in the third quarter, despite fierce competition from rivals with lower telephone service costs. The group managed to attract more customers in its home market for premium products and fiber optics.
Turnover increased by 3.4 percent in the measurement period to 11.9 billion euros. That is slightly lower than the experts in general had foreseen. Growth in key markets such as the United Kingdom, Brazil and Germany also helped to resist the pressure in Spain.
In the third quarter, the underlying operating result (oibda) amounted to more than 4.2 billion euros. Over the first nine months of the year, this result increased by 1.1 percent. Telefónica maintains its annual targets, including a 2 percent increase in the underlying result.
Peretz M. is an accomplished economist and financial journalist with a deep understanding of the global economy and financial markets. He is a regular contributor to EconomicInform, where he provides expert analysis and commentary on current economic trends and events. With a strong educational background in economics, Peretz has a talent for breaking down complex economic concepts for a general audience and is able to provide insightful perspectives on a wide range of economic issues.