Telefónica reported 10.78 billion euro ($12.32 billion) in revenues for the first quarter of 2016, down compared to the 11.54 billion euro reported in the year-ago period. The telco’s net profit for Q1 reached 776 million euro, compared to a net profit of 1.8 billion euro in Q1 2015.
The company said that the year-on-year net profit variation was from a nonrecurrent positive fiscal impact in the first quarter of 2015.
