Telefonica 9-mo profit meets forecasts, up 0.3 pct

MADRID, Nov 12 (Reuters) - Spain's Telefonica (TEF.MC) reported flat nine-month earnings as expected on Thursday, as the recession whittled away at its core European business and the group drew in costs.

Net profit at Europe's largest telecom rose 0.3 percent to 5.61 billion euros ($8.41 billion), versus expectations for 5.645 billion euros in a Reuters poll of 10 analysts.

Revenues fell 3.3 percent to 41.72 billion euros in the nine month period, just below a consensus for 41.93 billion euros in the poll, while operating income before depreciation and amortisation (OIBDA) fell 2.2 percent to 16.65 billion euros versus 16.657 billion euros forecast in the poll. (Reporting by Elisabeth O'Leary; Editing by Jonathan Gleave)