Telefonica books 706 million euro Q3 net profit, reiterates annual outlook

MADRID (Reuters) – Spanish telecom firm Telefonica (NYSE:) SA said on Thursday it booked a net profit of 706 million euros ($817.62 million) in the third quarter and reiterated its forecast for 2021.

Telefonica said it expects revenue and core profit to be “stable” or see “a slight growth” in 2021.

The company had reported a net loss in the same period a year earlier following a 785 million euros write-down of assets in Argentina.

($1 = 0.8635 euro)

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