Telefonica grows Q4 organic sales 2.7%, targets stable 2017

(Telecompaper) Telefonica reported an improvement in underlying results in the fourth quarter and said it expects stable revenues and a higher margin in 2017. In Q4, revenue fell 1.0 percent to EUR 13.271 billion, but rose 2.7 percent on an organic basis, thanks to nearly stable revenue in Spain and a return to organic growth in Brazil. OIBA was up 9.4 percent on an organic basis to EUR 3.187 billion, and the margin improved 2.0 percent points from a year ago to 23.2 percent. For 2017, Telefonic