Telefonica : Brazilian strength in Q2 2023
>The good news: Brazil beats expectations - Q2 2023 results are slightly above expectations overall: revenues are in line with the consensus (€ 10,133m vs cons. € 10,083m), EBITDA 1% above consensus thanks to Brazil (€ 3,144m vs cons. € 3,124m) and FCF 11% above consensus thanks to lower capex in Brazil (€ 842m vs cons. € 758m). Group EBITDA growth accelerated from 1.1% to 3.5% y-o-y, still driven by Brazil, Germany and the UK (+11%, +3%, +4%). In Brazil, revenue...Telefonica is engaged in the provision of public or private telecommunications services, including ancillary or complementary telecommunications services or related services. Co.'s fixed business includes: traditional fixed telecommunication services, Internet and broadband multimedia services, data and business-aplications services, and wholesale services for telecommunication operators. Co. also provides a range of mobile and related services and products to consumer and business customers, including mobile voice services, value added services, mobile data and Internet services, wholesale services, corporate services, roaming, fixed wireless, and, trunking and paging.
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