Q2 revenues were quite disappointing, down organically by 0.2% yoy (at constant change) while they have grown by 3.4% yoy during Q1. The adjusted EBITDA which had increased by 5.5% in Q1, grew by only 0.8% yoy. Note this quarter, the currency impact was still strong: the South American revenues, which grew organically in current currencies by only 2.3% yoy in Q2 (vs 7% during Q1!), were still down by 12.5% yoy in reported terms. And the value of Telefonica unfortunately follows the evolution
28 Jul 2016
A disappointing Q2
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A disappointing Q2
Q2 revenues were quite disappointing, down organically by 0.2% yoy (at constant change) while they have grown by 3.4% yoy during Q1. The adjusted EBITDA which had increased by 5.5% in Q1, grew by only 0.8% yoy. Note this quarter, the currency impact was still strong: the South American revenues, which grew organically in current currencies by only 2.3% yoy in Q2 (vs 7% during Q1!), were still down by 12.5% yoy in reported terms. And the value of Telefonica unfortunately follows the evolution