MADRID Spanish telecom firm Telefonica said on Thursday its first-quarter net profit fell 58% from the same period a year earlier, although at 298 million euros ($328 million) still beating expectations.

Overall revenues rose 6.7% to 10.05 billion euros, the company also said, while core earnings fell 2.4% to 3.12 billion euros.

A company-provided consensus of analysts expected net profit of 279 million euros, revenues of 9.74 billion euros and core earnings of 3.08 billion euros.

($1 = 0.9084 euros)

(Reporting by Inti Landauro; Editing by Tom Hogue)