Telefónica Posts Q2 Net Income EUR 7.743 Bln, Sales Down; Upgrades FY21 View

(RTTNews) - Spanish telecom major Telefonica SA (TDE.L, TEF) reported Thursday that its second-quarter net income was 7.74 billion euros or 1.37 euros per share.

OIBDA was 13.47 billion euros, a growth of 3.3 percent in organic terms.

In the second quarter, Group revenues amounted to 9.96 billion euros, 3.6 percent less than in the same period of 2020, but 3.4 percent more in organic terms.

Further, Telefónica upgraded its revenues and OIBDA targets for 2021 to "stable to slight growth" from "stabilisation".

In addition, it maintains Capex to Sales target to back to normalised levels of up to 15 percent.

Further, Telefónica confirmed its shareholder remuneration for 2021 with a dividend of 0.30 , which will be paid in two tranches, 0.15 euro next December and another 0.15 euro in June 2022, through a voluntary scrip dividend.

The company has also announced that it will propose to the AGM the cancellation of the shares representing 0.7 percent of the share capital held as treasury stock on June 30th, 2021.