Telefónica Shares Jump After Brazil, Spain Drive Profit Growth

Telefónica SA shares jumped the most in almost three months as the Spanish carrier reported higher first-quarter earnings, boosted by growth in Brazil and easing competition in Spain.

Adjusted earnings before interest, taxes, depreciation and amortization rose 1.8% from a year earlier to €2.84 billion ($3.33 billion) in the first quarter, the Madrid-based carrier said in a statement on Thursday. The company has adjusted the figure to account for exiting markets in Chile and Columbia.