Telefónica Sees New Growth Cycle

Madrid-based telco Telefónica reported organic revenue growth of more than 3% year-on-year in the first quarter of 2015 to 11.54 billion euros, on the back of improved performance in Spain, Brazil and Germany

César Alierta, Executive Chairman, said: "These figures reflect the solid beginning of this new cycle and are leveraged on the improved organic evolution of the business. This growth is also reflected across the board as all business units, except for Spain, posted increases in accesses, revenues and OIBDA. Moreover, Spain has already begun its return to growth after reporting in the quarter a year-on-year increase in accesses, which will gradually translate into growth in financials." source: Telefónica statement