MADRID (dpa-AFX) - Telefonica SA (TDE.L), a Spanish telecommunications company, Thursday reported profit before tax of 728 million euros for the first quarter, higher than 516 million euros in the same quarter a year ago. This was primarily attributed to 45 million euros share of profit from investments in the latest quarter compared with 188 million euros loss in the previous-year quarter.
Earnings before interest, taxes, depreciation, and amortization or EBITDA grew 1.9 percent to 3.205 billion euros.
Net profit increased to 532 million euros or 0.08 euros per share from 298 million euros or 0.04 euros per share last year.
Excluding one-time items, adjusted earnings per share were 0.10 euros, up from 0.09 euros a year ago.
Revenue for the quarter increased to 10.140 billion euros from 10.045 billion euros in the previous year.
Telefonica ratified a dividend of 0.30 euros per share for 2024 payable in two installments of 0.15 euros per share in December this year and June 2025.
Additionally, Telefonica said it signed a non-binding MoU with DIGI for a long-term mobile network agreement in Spain.
For the full year, the company continues to expect revenue to grow about 1 percent and EBITDA to increase between 1 percent and 2 percent.
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