This post was originally published on this site
Telefonica SA on Tuesday reported a third-quarter loss after booking more than a billion euros in restructuring costs but backed its guidance for the year and said it would stick to its dividend policy.
The Spanish telecommunications company TEF, +0.27% reported a quarterly net loss of 443 million euros ($494 million) compared with a profit of EUR1.14 billion in the same period last year.
Net profit took a EUR1.40 billion hit from restructuring costs, it said. Revenue in the quarter edged 1.7% higher to EUR11.90 billion.
Telefonica said operating income before depreciation and amortization fell to EUR2.75 billion from EUR4.04 billion.
