Thursday, June 20, 2024

stc Group delivering on IT infrastructure growth strategy

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Telefónica deal comes after revenue hike

That latest acquisition of the stake in Telefónica came as the Spanish telco giant posted net income for Q2 2023 up 44.5% Y-o-Y to reach €462 million (US$495 million).

“Telefónica accelerated in meeting its objectives during the second quarter and confirms the strength of the business and the good momentum of the company, which allows us to upgrade our guidance and renew our ambition to move towards a new vision for the company,” 

Telefónica is preparing its 2023-2026 business plan based on three pillars: Growth, Profitability and Sustainability.

“Telefónica is not content to simply adapt to the future but has decided to shape it with a radical evolution,” said Chairman José María Álvarez-Pallete

“The new times catch us well prepared to anticipate, respond and complete the challenging journey we undertook almost a hundred years ago. Our time has come. It is Telefónica’s time. We are ready for the future.”

Looks like another shrewd move by stc Group as it continues its own growth agenda.


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