Telefónica has recorded a return to organic revenue growth for the first time since 2012’s first quarter, thanks to a solid performance in Latin America during the second quarter, which accounted for 51pc of the telecoms group’s consolidated revenues.
Overall revenues rose 0.5pc year-on-year to €14.42bn during the second quarter, with the Latin-America region reporting double-digit growth.
Also during the second quarter, net income dropped 13.1pc to €1.15bn, compared to €1.33 last year.
Basic earnings per share fell 13.8pc to €0.25 from €0.29 a year ago.
Debt also fell, from €51bn in April to €48.6bn this month. The company wants to cut debt to less than €47bn this year, down from a high of €56.3bn in 2011.