Telefonica 3Q20 revenues drop to EUR10.5bn

29 Oct 2020

Spanish telecoms giant Telefonica has reported revenues of EUR10.461 billion (USD12.298 billion) for the three months ended 30 September 2020, down 12.1% year-on-year on a reported basis. Group OIBDA for the third quarter dropped 2.8% to EUR2.672 billion, while Telefonica reported a net loss of EUR160 million for 3Q20, down 63.9% on an annualised basis.

In operational terms, Telefonica reported consolidated mobile accesses of 260.878 million at 30 September 2020, alongside 20.213 million broadband users, 28.881 million fixed telephony accounts and 8.140 million pay-TV subscribers.

Jose Maria Alvarez-Pallete, executive chairman at Telefonica, commented: ‘Telefonica continues to show its strength in the midst of an unusual situation we are experiencing, in which digitalisation and connectivity will continue to be key to economic recovery. Thanks to the implementation of the strategy presented a year ago and the robustness of our business, trends are improving in the third quarter, with a clear recovery in commercial activity in our key markets.’

Spain, Telefonica