February 21, 2019 / 6:52 AM / a month ago

Spain's Telefonica Q4 core profit falls 9.6 pct y/y

MADRID, Feb 21 (Reuters) - Spanish telecoms group Telefonica reported a 9.6 percent fall in fourth-quarter core profit from a year earlier to 3.54 billion euros ($4.01 billion) on Thursday, squeezed by restructuring costs and currency effects in Latin America.

On an organic basis, removing the restructuring costs and currency effects, operating income before depreciation and amortisation (OIBDA) rose 2.4 percent, the company said.

Spain’s fourth-biggest company by market cap forecast around 2 percent growth in 2019 core profit and revenue at constant exchange rates, except for Venezuela and excluding the hyperinflation adjustment in Argentina. ($1 = 0.8827 euros) (Reporting by Isla Binnie; Editing by Paul Day)

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