Spanish telecom giant Telefonica reported first-quarter earnings Wednesday, revealing that revenue fell 10 percent to €14.1 billion ($18.5 billion), even as net income grew 20.6 percent to €902 million ($1.1 billion).
The company reported that it lost 51,000 pay-TV subscribers in Spain in Q1.
Spain’s Telefonica continues to lose pay-TV (IPTV Spain) customers in its domestic market at a worrying rate, with 50k leaving in the first quarter of this year alone to reach 659k, although its Latin American operations helped partially rebalance these losses.
Across Europe as a whole, Telefónica saw its pay-TV customer base shrink 17% in the first quarter of this year on an annual basis to reach 852k
Revenue from Telefonica’s financially-strapped home market dropped 16 percent in part due to record-breaking 27 percent unemployment in Spain and increased competition from smaller rivals offering cheaper packages of voice, broadband and TV.
Telefonica CEO Cesar Alierta said the mixed results reflect “a progressive stabilization of the business and a greater degree of diversification, together with the constant improvement in the financial position.”
Top 10 Most Viewed Posts In The Last 7 Days
- ITV Changes 20th October…Some SD channels closing, more HD channels.
- Humax Freesat Remote Control not working
- ITV1 – SD and HD swap for Sky and Freesat channel 103
- Using a Sky HD box and recently lost signal for your ITV1 on channel 103?
- How to add C4HD to your Humax Freesat box
- ITV HD satellite changes
- IPTV Buffering and Freezing – try these tips
- New Arris Freesat 4K box officially released
- Lost Sky News and Pick? They have changed frequencies!
- BeIN Sports (Mena) Receiver Updates Not Working – this solution worked for me!