Telefónica teams up with Elon Musk to provide satellite connectivity services
Telefónica has teamed up with Elon Musk‘s SpaceX company Starlink to access the constellation of satellites that provide high-speed, low-latency broadband internet around the world, even in remote areas.
The Spanish telecommunications multinational, through its global business unit Telefónica Global Solutions (TGS), will complement its current offering by integrating the “fixed or mobile” business solutions offered by the SpaceX company into its portfolio, according to sources at the Spanish multinational.
The service for organisations offered by Elon Musk’s satellite company includes broadband internet, a dedicated terminal that allows downloads of up to 350 Mbps (megabits per second), a terminal capable of working on the move and a data service.
After Mexico, Telefónica plans to extend the service to Peru, Colombia, Chile, Brazil and Spain.
The operation has already been launched in Mexico and Telefónica expects to gradually extend it to other countries throughout the year, starting with Peru, Colombia, Chile, Brazil and Spain.
Telefónica Global Solutions will progressively promote the commercial opening of this service in the rest of the markets where it is present.
Earnings up 44.5% and doubles its 2023 revenue target
Telefónica has accelerated its growth during the second quarter of the year with a profit of 462 million euros, 44.5% more than in the same period of 2022. Between April and June of this year, revenues rose by 0.9% to 10,133 million euros, confirming its favourable progression by continuing to grow for the fifth consecutive quarter.
This positive business performance enables Telefónica to improve the financial targets set for 2023 as a whole: the revenue target is doubled to anticipate organic growth of 4%, while the new target for operating income before depreciation and amortisation (OIBDA) points to an organic increase of 3%, in the higher range of the forecasts announced at the beginning of the year. The target for the capex ratio of around 14% remains unchanged.
