Telefonica sets good business example

Spain's Telefonica posted a 22.4 percent rise in first-quarter net profit to 1.54 billion euros ($2.38 billion) on Wednesday.

Operating income before depreciation and amortisation (OIBDA) rose 5.3 percent to 5.38 billion euros.

	Telefonica sets good business example
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Telefonica reiterated group guidance for 2008, which include OIBDA growth of between 7.5 percent and 11 percent and a revenue increase of 6-8 percent, despite a slowing Spanish economy from which the group derives more than 40 percent of core earnings.

Telefónica, S.A., is a Spanish telecommunication company. Operating globally, it is one of the largest fixed-line and mobile telecommunications companies in the world: 4th in terms of number of clients and in the top five in market value. Telefónica is the second largest corporation in Spain.

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