Telefonica's (TEF) Q1 Earnings and Revenues Decline Y/Y

Telefonica S.A. TEFreported lackluster first-quarter 2018 results as both the top line and bottom line declined year over year on currency woes.

The Spanish telecom giant’s quarterly net income improved 7.4% year over year to €837 million ($1,028.6 million), although earnings per share declined 13.2% to €0.

12 (15 cents) due to higher share number of outstanding shares in the reported quarter.