Telefónica raised its full-year adjusted EBITDA growth outlook to slightly above 2.5% after a strong third quarter, while lowering its revenue growth target to 1%-1.5%. According to Sina Finance, the company had previously forecast growth of 1.5%-2.5% for both adjusted EBITDA and revenue; Chief Operating Officer Emilio Gayo said the revenue outlook was lowered mainly because of handset sales, while service revenue remained very strong. For the quarter ended in September, revenue was €8.43 billion, up 2.2% year over year excluding currency effects and above the €8.33 billion market consensus. Adjusted EBITDA rose 2.8% year over year to €3.08 billion, topping the €3.03 billion consensus.