Energy costs hit Telefónica’s Q3 earnings in Spain

Telefónica turned in a solid performance in the third quarter of this year, buoyed by its German unit and businesses in Latin America, but all is not rosy at its domestic operations.
The Spanish incumbent crowed about its record net income figure for the first nine months of the year, driven by asset disposals, and confirmed its full-year guidance, but seemed keen to draw attention away from Spain itself, where earnings took a sizeable hit.
Telefónica España, which accounts