Telefónica S.A. reported a loss of €1.286 billion for the first half of 2025, significantly affected by the sale of its Argentine subsidiary, which had a negative translation impact of €1.136 billion. The report also highlights total assets of €94.369 billion as of June 30, 2025, with non-current liabilities at €48.271 billion and current liabilities at €25.125 billion.