FILE PHOTO: The logo of Spanish Telecom company Telefonica is seen on a sewage cover outside its headquarters in Madrid, Spain, May 12, 2021. REUTERS/Sergio Perez
MADRID (Reuters) - Spanish telecoms group Telefonica raised its outlook for the full year on Thursday, after posting a record net income of 7.74 billion euros ($9.2 billion) thanks to the sale of its Telxius tower unit and the UK tie-up of O2 and Virgin Media.
Telefonica said it now expects revenue and core profit to be "stable" or to see "a slight growth" in 2021, buoyed in part by its Brazilian and German markets which reported strong results on Wednesday. It had forecast a "stabilisation" three months ago.
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