We increased our revenue by 39.6% in the second quarter, reaching €885 million

Telefónica Tech has presented financial results for the second quarter of 2023, reporting revenues of €456 million in the quarter, 36.1% more than in the second quarter of 2022, and €885 million in the first half, up 39.6%.

These figures confirm that it has ended the quarter revalidating its above-market growth rates, as well as its leadership position as a provider of new generation solutions thanks to its scale and differential capabilities.

Telefónica accelerated growth during the second quarter of the year reaching a net income of €462 million, 44.5% more compared to the same period of 2022. Revenue rose 0.9% to €10,133 million between April and June this year and confirmed its favorable progression by growing for the fifth consecutive quarter.

This positive business performance allows Telefónica to upgrade the financial targets set for 2023: revenue target is being doubled anticipating a 4% organic growth, while the new target for operating income before depreciation and amortisation (OIBDA) aims for a 3% organic increase, in the higher range of the guidance announced at the beginning of the year. The target for the CapEx to sales ratio of around 14% remains unchanged.

Telefónica is moving towards a new vision of a company focused even more on the best customer service and the creation of shareholder value with the most disruptive technology to take advantage of all the growth opportunities of the future. The company will present a new strategic plan for the period 2023-2026 at an Investor Day on 8 November.