UPDATE 1-Telefonica cuts dividend as pandemic crimps 2020 earnings [Reuters]
Telefonica SA (TEF)
Last telefonica sa earnings: 2/23 04:01 pm
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telefonica.com/en/web/shareholders-investors
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Source: Reuters
UPDATE 1-Telefonica cuts dividend as pandemic crimps 2020 earnings By Isla Binnie 2 Min Read (Adds detail, background) MADRID, Feb 25 (Reuters) - Telefonica posted a 10% fall in 2020 earnings on Thursday and while the Spanish telecoms group expects the business to stabilise this year, it plans to lower its dividend. Telefonica, like its European peers, was struggling to post strong growth even before the pandemic struck, is focusing on stoking growth in Brazil, Britain, Spain and Germany and selling some assets to cut debt and fund an upgrade to next-generation 5G networks. Earnings improved later in the year as the initial impact of the health crisis and lockdowns eased, but the company still calculated it had lost 977 million euros in operating income due to lower service revenue and handset sales. Operating income before depreciation and amortisation (OIBDA) fell 10% to 13.5 billion euros including a 1.2 billion-euro hit from unfavourable exchange rates. In response Telefonica low
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TEF
Earnings
- 2/23/24 - Beat
TEF
Sec Filings
- 4/23/24 - Form 6-K
- 4/22/24 - Form SC
- 4/12/24 - Form SC
- TEF's page on the SEC website