MADRID: Spanish telecoms giant Telefonica yesterday posted better-than-expected nine-month operating revenue and core profit, allowing it to revise up slightly its full-year estimates.
One analyst hailed the revisions to what he said were already buoyant targets for the sector. “Telefonica is the only operator not only capable of giving very high guidance but revising it up too ... Its rivals, such as Deutsche Telekom not only have modest growth but they revise it down,” said Caja Madrid analyst Nahum Sanchez.