MADRID (Reuters) - Spain's Telefonica (MC:TEF) said on Friday its net profit for the first quarter of the year fell 23.2 percent to 692 million euros (566.42 million pounds), missing a Reuters forecast for 712 million euros.
Europe's biggest telecoms company by revenue said its operating income (OIBDA) dropped 14 percent to 3.929 billion euros, also missing a Reuters forecast for 3.935 billion euros.
(Reporting by Julien Toyer; Editing by Sonya Dowsett)