By Mauro Orru
Telefonica SA backed its financial targets and dividend for the year after it reported higher third-quarter revenue on improving handset sales as well as a boost from foreign exchange moves.
The Spanish telecommunication company said Friday that revenue for the July-through-September period climbed to 10.34 billion euros ($10.08 billion) from EUR9.30 billion last year.
Operating income before depreciation and amortization--a key profitability metric for Telefonica--fell to EUR3.25 billion from EUR3.73 billion.
Net profit slipped to EUR460 million from EUR706 million last year.
"Results allow us to confirm our full year-guidance, narrowed to the mid to upper end of the low-single-digit range at H1 22 results, and our dividend commitment for 2022, despite a very challenging macro backdrop," Telefonica Chief Executive Jose Maria Alvarez-Pallete said in a statement announcing the results.
For 2022, Telefonica targets the high end of the low single-digit growth range for revenue, and the mid-to-high-end of low single-digit growth for Oibda.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
11-04-22 0300ET