Telefónica Deutschland Reports Third Quarter Financial Results and Restructuring Progress

Telefónica Deutschland reported third-quarter revenue of about €1.9 billion, down 2.9% year over year, an improvement from the 11.1% decline in the second quarter. Its restructuring plan includes cutting 1,100 jobs and closing 60 shops this year, with additional reductions in customer service and sales expected next year. CFO Markus Rolle said the company is maintaining strict cost controls as it targets a return to profitable growth next year. Network-access rental income from Simsalasim and Revolut is expected to support a positive revenue trend in the coming year.