Telefónica Third-quarter OIBDA Down 14% - Quick Facts

(RTTNews) - Spanish telecommunication group Telefónica S.A. (TEF, TDE.L) reported Thursday reported a 14 percent decline in the Operating Income before Depreciation and Amortisation or OIBDA at 864 million euro. The company said that the decline was due to an increase in commercial investments focused on mobile customer base retention activities and specific promotions on devices attached to high value tariffs.

Revenues in the third quarter were 1.22 billion euros, a decline of 7 percent from the same period last year.

Personnel expenses increased by 1.8 percent to 312 million euros year-over-year. Other expenses increased by 0.4 percent to 1.10 billion euros, reflecting customer retention and promotions made in the third quarter.

Further, the company said it intends to declare a cash dividend for the year ending December 31 of about 525 million euros, payable in 2014.