(MENAFN) Telefonica, a leading telecommunications company in Spain, recorded a 6.4 percent surge in its net profits for last year to generate USD3.77 billion.
Last year was "the year that passed the halfway mark in the transformation of Telefonica," affirmed the giant's President Jose Maria-Alvarez-Pallete.
"Today I can assure you that Telefonica is closer to the company we want to be than to the company we were," the chief stressed.
"Our solid set of fourth-quarter results reflected the improvement in business' sustainability. Value customers and their average lifetime continued increasing, while both revenue and operating cash flow growth accelerated," Pallete added.
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