Telefónica Q2 FY20

Q2 FY20: Telefónica distracts as reality bites

Source: Spencer Imbrock / Unsplash

Another social pact unveiled as COVID-19 and currency falls combine to wipe €1.5bn of reported revenue in second quarter and shred profitability. Cash generation a priority as strict — and seemingly permanent — spending and investment restrictions are put in place. “Resilience” the key quality attributed to the Group ...

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