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Telefonica Posts Surge In Q4 Profit

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Telefonica SA (NYSE: TEF) reported a strong rise in its fourth-quarter net profit.

Telefonica's quarterly net profit surged to EUR1.45 billion ($1.98 billion), versus a year-ago profit of EUR473 million. However, analysts were expecting a net profit of EUR1.16 billion.

Its sales slipped 8.9% to EUR14.43 billion.

Telefonica shares closed at $15.48 yesterday.

Posted-In: profitEarnings News

 

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