Telefonica Q2 Profit Up, Revenues Down - Quick Facts

(RTTNews) - Spanish telecom group Telefónica S.A. (TEF, TDE.L) Thursday said its second-quarter net income increased 4.9 percent to 1.210 billion euros. Basic earnings per rose 2 percent to 0.26 euros.

In the quarter, the group said, its OIBDA edged down 0.7 percent year-on-year in organic terms, mainly due to higher commercial investments.

For the second quarter, revenues slid 11.8 percent to 12.725 billion euros, while it rose 1.3 percent in organic terms.

In addition, Telefónica said it is reiterating its financial and operating targets for 2014, including the dividend.