Telefónica, S.A. (TEF) Misses Q2 EPS by 3c; reaffirms outlook

Telefónica, S.A. (NYSE: TEF) reported Q2 EPS of $0.07, $0.03 worse than the analyst estimate of $0.10. Revenue for the quarter came in at $10.26 billion versus the consensus estimate of $10.91 billion.

OUTLOOK

January-June 2024 Group results consistent with 2024 guidance and aligned with Company expectations. Financial for
2024 are as follows (reported2)
• Revenue +1.1% y-o-y in H1 24 vs. 2024 target of ~1% growth y-o-y
• EBITDA +1.9% y-o-y in H1 24 vs. 2024 target of 1% to 2% growth y-o-y
• EBITDAaL-CapEx +3.1% y-o-y in H1 24 vs. 2024 target of 1% to 2% growth y-o-y
• CapEx/Revenue 11.3% in H1 24 vs. 2024 target of up to 13%
• FCF €163m in H1 24 vs. 2024 target of >10% growth y-o-y

For earnings history and earnings-related data on Telefónica, S.A. (TEF) click here.

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