Telefonica first-half loss narrows to €338 million

Telefonica said Wednesday that its first-half loss narrowed to 338 million euros, compared with a 1.36 billion-euro loss in the same period a year earlier, as the Spanish telecoms group continued a major reorganisation.

The company said the results were reduced by a one-billion-euro charge linked to selling its activities in Chile and restructuring its German operations.

Telefonica said it would have made a profit of 474 million euros if units it plans to sell were excluded.

Revenue in the first six months rose 1.7 percent to 16.4 billion euros, led by the group’s Spanish and Brazilian operations.

In 2025, Telefonica recorded a 4.32 billion-euro loss, mainly because of restructuring costs, after announcing plans to cut about 5,000 jobs and sell subsidiaries in Latin America.