Telefonica Reports $481 Million Q1 Loss on LatAm Sales
Telefonica reported a $481 million first quarter loss due to Latin American unit sales. Revenue rose 0.4 percent as core profit margins improved slightly.
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TELEFONICA SA reported a net loss of 411 million euros ($481 million) for the first quarter on May 14. The loss follows divestments in Chile, Colombia, and Mexico during the January to March period. While disposals hit the bottom line, revenue rose 0.4% to 8.13 billion euros as service growth offset falling handset sales.
