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Telefonica books 706 million euro Q3 net profit, reiterates annual outlook -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The Spanish Telecom Company Telefonica logo is seen in Madrid (Spain), May 12, 2021. REUTERS/Sergio Perez

MADRID (Reuters) – Spanish telecom giant Telefonica SA (NYSE:) reported Thursday that it posted a net profit (£817.62 millions) for the third quarter. It also reiterated its 2021 forecast.

Telefonica reported that its core profit and revenue are expected to grow slightly in 2021.

Following a 785million euro write-down of Argentina assets, the company previously reported a loss in that period one year ago.

($1 = 0.8635 euro)

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