Telefonica SA

TEF: XMAD (ESP)

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Telefonica Earnings: No Surprises; Update on Strategic Review Expected in Second Half

Javier Correonero

May 14, 2025

Telefonica’s first-quarter results were largely as expected, with revenue of EUR 9.2 billion and EBITDA of EUR 3 billion, up 1.3% and 0.6% organically, respectively. Vague guidance of “organic growth” was reaffirmed, rebased for the sale of Argentinian and Peruvian businesses.

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Telefonica SA

Telefonica Earnings: No Surprises; Update on Strategic Review Expected in Second Half

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