Spanish telecoms giant Telefonica has reported revenues of EUR9.410 billion (USD9.915 billion) for the three months ended 31 March 2022, down 9.0% year-on-year on a reported basis. Group OIBDA for the quarter under review decreased 6.4% to EUR3.199 billion, while net income dropped 20.3% to EUR706 million in 1Q22. Further, Telefonica notes that its net financial debt was reduced by 23.3% y-o-y and stood at EUR27.453 billion as of 31 March 2022.
In operational terms, Telefonica reported consolidated mobile subscriptions of 277.394 million at 31 March 2022, of which 32.265 million were IoT accounts. In addition, the group reported 25.836 million fixed broadband subscriptions, 29.281 million fixed voice lines and 10.952 million pay-TV accesses.