Telefonica posts $481 million net loss in Q1 due to LatAm sales

Telefonica SA

14/05/2026 06:47

MADRID, May 14 (Reuters) - Spanish telecomms company Telefonica TEF.MC on Thursday reported a net loss of 411 million euros ($481 million) for the first quarter of the year, as the impact from the sale of its Chilean, Colombian and Mexican units weighed on earnings.

The result compared with a 1.3 billion euro loss in the same period last year, when the company wrote down the value of assets it sold in Peru and Argentina.

However, excluding the accounting impact of the Latin American disposals, it posted an adjusted net profit from continuing operations of 482 million euros in the January to March period, down 21.5% from 614 million euros a year earlier on a like-for-like adjusted basis.

Revenue rose 0.4% to 8.13 billion euros in the quarter, or 0.8% on a constant-currency basis, as service revenue growth of 1.1% offset a 2.4% decline in handset sales.

Adjusted core profit rose 1.3% to 2.84 billion euros, up 1.8% in constant terms, while the adjusted core profit margin widened by 0.3 percentage points to 34.9%.

($1 = 0.8538 euros)

 (Reporting by David Latona; Editing by)

 ((david.latona@thomsonreuters.com; +34 918 35 68 13;))