Telefonica Shares Rise After Revenue, Adjusted Earnings Beat Expectations
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Telefonica shares rose 5.1% to 4.01 euros after reporting first-quarter revenue of 8.13 billion euros, exceeding expectations. Revenue in Spain grew 2%, while Brazil saw a 7.4% increase. Adjusted earnings before interest, taxes, depreciation, and amortization rose to 2.84 billion euros, surpassing forecasts. The company reported a net loss of 411 million euros, an improvement from a 1.30 billion euro loss a year earlier. Under CEO Marc Murtra, Telefonica is focusing on growth and has reduced its Latin American exposure, including acquiring U.K.-based Netomnia.
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