Telephonica pushes on strong revenues and profits
by Brian Turner
Telefónica, Spain’s biggest telecommunications group and the world’s third largest telecom, reported that its net profits rose 36 percent in the quarter ending March 31, to €912 million ($1.15 billion).
Revenues rose 17 percent to €8.3 billion, in large part because of 10 Latin American mobile phone companies that Telefónica purchased from BellSouth in 2004.
The company has predicted that revenue will grow 12 to 15 percent this year, putting the first quarter ahead of that track.
The Spanish company also reported growth in its fixed-line business in the quarter as higher numbers of broadband ADSL internet subscriptions helped sales in the division rise 6 percent in the face of strong competition.
Telefónica currently has 131 million subscribers around the world, including 3.5 million broadband subscribers. Profits were also helped by job cuts in Spanish fixed-line operations.
On the strength of this good quarterly report, Telefónica opened up 0.8 percent Monday at €13.38.
Discuss this in the Finance Markets forums
Story link: Telephonica pushes on strong revenues and profits
Add to Bookmarks:
Related financial stories to: Telephonica pushes on strong revenues and profits
- Napster UK pushes market presence
- Freddie Mac loses revenues, but increases value
- Southwest Airlines retains strong profitability
- EADS declines on profits warning
- Sony Ericsson battles poor mobile profits
- Barclays Bank reports 2006 profits up 35 percent
- Londoners contribute 27% of UK stamp duty revenues
- NYSE continues strong gains
- Banking sector gains pushes FTSE 100 up
- Banking sector gains pushes FTSE 100 up
Previous: « US equities up while Europe down
Next: Negative Empire State manufacturing index impacts bonds »
Visited 378 times, 1 so far today
