- According to IDC, the telecommunications industry is one of the most resilient sectors of the economy during the COVID-19 crisis.
- For Telefonica, revenues are down, but the company has been able to drastically reduce expenses.
- Debt and capital expenses have also been reduced.
- However, COVID challenges persist in Europe, and while having seen improvement in customer retention, competitive pressures remain.
- The company has been able to keep dividends, and therefore, Telefonica is a hold for income seekers.
For further details see:
Telefonica: Showing Resiliency, But Uncertainty Persists