Telefonica 2013 revenues fall 8.5 pct on Latin American currencies

MADRID Thu Feb 27, 2014 1:58am EST

MADRID Feb 27 (Reuters) - Spain's Telefonica said on Thursday its full-year revenues fell 8.5 percent in 2013 to 57.06 billion euros ($77.98 billion), hit by weaker currencies in Latin America although it beat a Reuters forecast for 56.99 billion euros.

Europe's biggest telecoms company by revenue said its underlying business had expanded 0.7 percent in terms of revenues thanks to a strong performance in Latin America and growth in mobile data, which offset weak results in Europe.

Net debt came in at 45.38 billion euros, beating a goal to get below 47 billion euros by year-end, while net profit jumped 16.9 percent to 4.59 billion euros after the steep writedowns on its Italian and Irish assets in 2012.($1 = 0.7317 euros)