Telefonica (NYSE:TEF) reported on Thursday first quarter earnings that missed analysts' forecasts and revenue that was inline with expectations.
Telefonica announced earnings per share of €0.06 on revenue of €11.37B. Analysts polled by anticipated EPS of €0.24 on revenue of €11.37B. That with comparison to EPS of €0.16 on revenue of €11.98B in the same period a year before. Telefonica had reported EPS of €0.18 on revenue of €12.4B in the previous quarter. Analysts are expecting EPS of €0.16 and revenue of €11.2B in the upcoming quarter.
Telefonica shares are down 31% from the beginning of the year , still down 44.16% from its 52 week high of €7.59 set on June 12, 2019. They are under-performing the EURO STOXX 50 which is down 18.56% year to date.
Telefonica shares gained 1.97% in intra-day trade following the report.
Telefonica follows other major Services sector earnings this month
Telefonica's report follows an earnings beat by Inmobiliaria Colonial on May 13, who reported EPS of €0.07 on revenue of €86M, compared to forecasts EPS of €0.06 on revenue of €86.43M.
Merlin Properties SA had matched expectations on May 14 with first quarter EPS of €0.14 on revenue of €130.4M, compared to forecast for EPS of €0.14 on revenue of €126.36M.
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