Telefonica Swings To Q3 Loss

Telefonica SA TEF swung to a loss in the third quarter. Telefonica posted a quarterly net loss of EUR429 million, versus a year-ago net profit of EUR5.1 billion. Its operating income before depreciation and amortization dropped 69% to EUR2.95 billion. Telefonica's quarterly revenue climbed 3.7% to EUR15.79 billion. Telefonica shares gained 1.98% to close at $19.02 yesterday.