Telefonica ups outlook as revenues rise

Telefonica has increased its full-year revenue and earnings guidance after a strong second-quarter performance brought about for the most part by customers paying more for services.
The Spain-based telco group now expects turnover for calendar 2023 to grow by around 4%, and earnings – or OIBDA, to use its preferred metric – to increase by 3%. It previously guided for low single-digit growth in both, which might not seem like a massive change, but it is describing its new revenue grow