Spain's Telefonica Q2 OIBDA down 15 pct on currencies
MADRID, July 31
MADRID, July 31 (Reuters) - Telefonica posted on Thursday a 15 drop in operating income in the second quarter, in line with forecasts, hit by weaker currencies in Latin America while margins remained pressured in some of its key markets.
Operating income before depreciation and amortisation (OIBDA) was 4.13 billion euros ($5.53 billion) while revenues came in at 12.73 billion euros, down 11.8 percent and slightly missing a Reuters forecast for 12.75 billion euros. ($1 = 0.7465 Euros) (Reporting by Julien Toyer; Editing by Elisabeth O'Leary)