Telefónica Quarterly Earnings Rise as Spanish Competition Eases

Telefónica SA reported a slight increase in first-quarter earnings profit, boosted by operations in Brazil and easing competition in Spain.

Adjusted earnings before interest, taxes, depreciation and amortization stood at €2.84 billion ($3.33 billion) in the three months to March 31, 1.8% higher than a year earlier, the Madrid-based carrier said in a statement on Thursday. The number is adjusted to account for exits from certain Chile and Colombia.