Telefónica holds steady during Covid-19 crisis
May 7, 2020 13.24 Europe/London By Chris Dziadul
Spain’s Telefónica ended the first quarter with 4.8 million convergent customers in its home market.
This, say the company in its latest set of results, was stable year-on-year, with particularly strong growth (+17% y-o-y) being seen in premium speed fibre accesses.
However, convergent ARPU was 1.1% lower y-o-y at €91.8. Also, the number of pay-TV accesses fell by 1.5%, y-o-y to 4,032,300.
Telefónica Group had total revenues of €11,366 million in Q1, or 5.1% less than the reported figure last year. OIBDA was 11.8% lower at €3,760 million and net income 56.2% lower at €406 million.
Telefónica notes that the impact from Covid-19 has been limited in Q1.
While there was high pressure on the B2B segment, there was also increased demand for services, particularly around connectivity and content.