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Spain's Telefonica lifts revenues forecast but margins pressured

Published 30/07/2015, 06:59
© Reuters. Spain's Telefonica lifts revenues forecast but margins pressured
TEF
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MADRID (Reuters) - Spanish telecoms group Telefonica (MC:TEF) on Thursday said its revenues were seen growing by over 9.5 percent this year, up from more than 7 percent previously, after recent acquisitions in Brazil and Spain which, however, pressured margins.

Telefonica posted a 6.8 percent rise in core profits (OIBDA) in the second quarter to 3.7 billion euros (2.60 billion pounds) and a 70 percent rise in net profit to 1.9 billion euros on the period, widely beating a 1.02 billion euros forecast as it was helped by one-offs items such as the sale of its British unit.

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