MADRID (Reuters) -Spanish telecom company Telefonica said on Wednesday it booked a net loss of 1.3 billion euros ($1.45 billion) in the first quarter after it wrote down the value of the units it sold in Peru and Argentina.
Analysts expected a 1.32 billion euro loss, according to a consensus released by the company.
Excluding the capital loss on the sale of its businesses in Latin America, the company booked a profit of 427 million euros.
Telefonica maintained its guidance for the year.
($1 = 0.8941 euros)
(Reporting by Inti Landauro; editing by Jesús Aguado)
