May 9, 2019 / 5:34 AM / 7 months ago

Telefonica Deutschland confirms guidance after Q1 revenues rise 1.3 pct

FRANKFURT, May 9 (Reuters) - Telefonica Deutschland reported a 1.3 percent rise in first-quarter revenues on Thursday as core profits were lifted by a change in accounting rules.

Telefonica, Germany’s No.2 mobile operator behind Deutsche Telekom, said adjusted operating income before depreciation and amortisation (OIBDA) - a proxy for cash flow - gained by 29.4 percent to 528 million euros ($591.04 million).

On a comparable basis, adjusting for the rule change, OIBDA was up by 1 percent in the first quarter.

$1 = 0.8933 euros Reporting by Douglas Busvine Editing by Michelle Martin

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