Thursday, May 7, 2020

Telefonica Withdraws FY20 View, To Form UK JV With Liberty Global; Stock Dips

Shares of Telefonica SA were losing around 2 percent in the trading in Spain after the telecom major on Thursday reported weak first-quarter profit and withdrew fiscal 2020 guidance due to the current level of uncertainty amid Covid-19 impact. However, for the mid-term, the company backed 2022 guidance of revenue growth. Separately, Telefonica announced an agreement with Liberty Global.

from RTT - Earnings https://ift.tt/35C1RCG
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