Telefonica Doubles FCF In Q3; Clocks €10.3B Revenue Aided By Strength In Brazil, Hispam

Telefonica SA TEF reported third-quarter revenue growth of 11.2% year-on-year to €10.34 billion.
The strong growth in revenues in the third quarter was driven by double-digit increases in Brazil (+29%) and Hispam (+18.2%), as well as in Spain (+0.2%) and Germany (+6%).
Telefónica Tech’s revenues grew 68.6% Y/Y to €386 million.
At the end of the third quarter, Telefónica’s access base stood at 383.5 million, 5% more than a year earlier, with a growth of 17% in high-value accesses such as fiber and 8% in mobile contracts.
Revenue grew 3.8% Y/Y on an organic basis.
OIBDA grew 3.1% Y/Y on an organic basis.
Telefonica doubled its free cash flow to €1.13 billion.
Telefonica confirmed the 2022 dividend of €0.30 to be paid entirely in cash.
Price Action: TEF shares traded higher by 4.39% at $3.57 in the premarket on the last check Friday.
Photo Via Wikimedia Commons

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