Telefonica Q4 Net Profit Down 82%

Telefonica SA

reported an 82% drop in its Q4 net profit. Telefonica's quarterly net profit declined to 473 million euros ($618.8 million), versus EUR2.67 billion, in the year-ago period. In Spain, Q4 revenue dropped 14%, while revenue in the whole of Europe fell 6.7%. In Latin America, revenue climbed 4.2%. Telefonica shares closed at $12.88 yesterday.