Telefónica is confident of recovering ground in the summer after results punished by the market

 The news is about the financial results of Telefónica, a telecommunications company. Despite the fact that the company has experienced a 6.7% increase in revenue during the first quarter, profit has fallen by 58%. Telefónica expects to increase its revenues in Spain as the year progresses. Although it has registered a 0.3% increase in revenue in Spain, the profit has been affected by the lack of extraordinary elements and lower capital gains. Despite this, the company has signed its best quarter in commercial terms since September 2020. The price hike has led to an increase in the average monthly payment per customer and the company is expected to accelerate its growth in the coming months due to to the new tariffs, the growth of business for companies and the contribution of European funds. This is expected to stabilize operating income before write-downs, a key measure of profitability for telcos.