Telefonica Q2 revenues, profits slump due to COVID-19, unfavourable FOREX

30 Jul 2020

Telefonica Group has reported revenues of EUR10.3 billion (USD12.1 billion) for the three months ended 30 June 2020, down 14.8% year-on-year on a reported basis. The Spanish group notes that the COVID-19 pandemic negatively impacted on commercial activity across its geographic footprint, although unfavourable exchange rate movements also affected its Q2 results. OIBDA for the second quarter plummeted 25.3% y-o-y to EUR3.3 billion, while net income attributable to equity holders of the parent company slumped 50.7%, to EUR425 million.

In operational terms, Telefonica reported consolidated mobile accesses of 256.202 million at 30 June 2020, alongside 20.329 million broadband users, 29.618 million fixed telephony accounts and 8.243 million pay-TV subscribers.

Spain, Telefonica