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(Adds analyst comment, details) By Sonya Dowsett MADRID, Nov 11 (Reuters) - Spanish telecoms giant Telefonica <TEF.MC> beat analysts' expectations with a 36.2 percent jump in nine-month profit on Friday and hiked its revenue-growth forecasts for the full year. Fresh from surprising investors with a bid for British mobile firm O2 <OOM.L> in Europe's biggest-ever cash offer, Telefonica reported nine-month net profit of 3.25 billion euros ($3.83 billion) helped by strong currencies and acquisitions. One analyst said the results had beaten his forecasts across the range and this, coupled with the improved outlook, made for a good reception by the market. The net profit was above an average forecast of 3.15 billion euros in a Reuters poll of 12 analysts. The group said it expected full-year revenue growth to come in at more than 15 percent for the year, above the previous forecast range of 12 to 15 percent. It also revised upwards its domestic unit's revenue forecasts, saying it now expected Grupo Telefonica de Espana's revenue growth to be above 4 percent, compared with a previous range of 0.5 to 2 percent. Telefonica's share of its domestic fixed-line market is one of the highest in Europe. Operating income before depreciation and amortisation (OIBDA) was 10.94 billion euros, up 20 percent on the same period last year, on income of 27.4 billion euros. These figures were also slightly above analysts' average forecasts of 10.79 billion and 27.29 billion respectively. Results were buoyed by contributions from the recent purchases of Czech operator Cesky <SPTTsp.PR> and BellSouth's <BLS.N> mobile assets in Latin America. Strong currencies in Latin America, where Telefonica gleans nearly half its revenues, helped boost profits when converted into euros for the firm's accounts. The Brazilian real, the Argentine peso and the Chilean peso have all appreciated against the euro in recent months. Telefonica agreed a 17.7 billion pound ($30.96 billion) cash bid for Britain's O2 on October 31, a 22 percent premium to the mobile firm's share price before the news. But investors gave the deal a cold reception, questioning the strategy behind the move and the price being paid, and Telefonica shares have fallen more than five percent since it announced the offer. ((Reporting by Sonya Dowsett, editing by Quentin Bryar; Reuters Messaging: sonya.dowsett.reuters.com@reuters.net; 34 91 585 8328)) ($1=.8491 Euro) ($1=.5717 Pound) ($1=.8491 Euro) | ||||
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