Telefonica Posts Surge In Q4 Profit
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.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.