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Net profit fell 20% to 706 million euros ($742 million).
The drop compared with the 470 million euros forecast in a company-provided survey of analysts, which also predicted core earnings of 2.96 billion and revenues of 9.07 billion.
Telefonica's reported core earnings were down 6.4% to 3.2 billion euros and overall revenues fell 9% to 9.41 billion euros.
When excluding the effects of recent asset disposals, revenues were up 3.2% and core earnings rose 2.1%, the company said.
\"Telefonica's solid beginning of the year in an environment of inflationary tensions and geopolitical instability shows the strength of the company in facing the most adverse situations,\" CEO Jose Maria Alvarez Pallete said in a statement.
Telefonica attributed the performance to its ability to adapt prices to inflation in most markets, favourable currency swings and the strength of its tech business, which provides cybersecurity, cloud, big data and internet-of-things services.
Digitalization of operations generated cost cuts, the company said.
The currency changes boosted revenues by 242 million euros and the tech unit contributed 299 million revenues, 81% more than a year earlier.
Telefonica reiterated it expected an increase of \"low single-digit growth\" in revenues and core earnings, excluding the effect of asset sales. The company confirmed a dividend of 0.3 euros per share to be paid in two instalments in December 2022 and June 2023.
Telefonica shares were up 2.1% in morning trading while the blue chip IBEX 35 index was down 1.4%.
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净利润下滑20%,至7.06亿欧元(合7.42亿美元)。
下降相比,在公司给出调查的分析师预测的4.7亿欧元,也预测29.6亿年和90.7亿年的收入的核心盈利。
西班牙电信报道核心利润下降6.4%,至32亿欧元,整体收入下降9%,至94.1亿欧元。
当排除近期的资产处置的影响,收入增长了3.2%,核心盈利上涨2.1%,该公司表示。
“西班牙电信的固体今年年初在通胀的环境紧张和地缘政治不稳定显示公司的实力在面临最不利的情况下,”首席执行官何塞玛丽亚阿尔瓦雷斯面板中在一份声明中说。
西班牙电信性能归功于其适应能力价格通胀在大多数市场,有利的汇率波动及其科技企业的力量,提供网络安全、云计算、大数据和物联网服务。
数字化的操作生成的削减成本,该公司表示。
收入增长了2.42亿欧元,汇率变化科技单位贡献了2.99亿收入,比去年同期增加了81%。
西班牙电话公司重申,预计增加“低个位数增长”在收入和核心收益,不包括资产出售的影响。公司确认股息每股0.3欧元两分期支付2022年12月和2023年6月。
西班牙电信股价早盘上涨2.1%,而蓝筹股IBEX 35指数下跌1.4%。
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