Telefonica Reports 4Q Loss, Forecasts Higher Revenue

Telefonica Reports Net Loss for Fourth Quarter, Forecasts Higher Revenue and Earnings

Telefonica, the Spanish telecommunications group, has reported a net loss of 2.15 billion euros for the fourth quarter. This is a significant swing from the year-earlier period when the company made a profit of EUR525 million. The losses can be attributed to one-off charges at its Spanish business and its U.K. joint venture, Virgin Media-O2.