May 13, 2010 -
PRLog -- Telefonica, Europe’s second largest phone company based in Madrid, reported lower than expected first quarter results with weak Spanish operations while profit boosted by its Latin American and European operations outside Spain.
Telefonica Europe posted a 7.4% increase in its first quarter revenues to €3.49 billion compared to the same period last year while sales from Telefonica’s Spanish division fell 5.7% to €4.6 billion. On the other hand, sales at the Latin America unit climbed 4.2% to €5.63 billion, operating expenses increased 5% to €9.02 billion and the customer base grew 4.6% to 273 million. In addition, the total customer base at Telefonica Europe also grew 15.5% y-o-y to 53.9 million subscribers driven mainly by the continued expansion of fixed and mobile broadband segments while mobile customer base climbed to 44.6 million, which represents an increase of 6.6% y-o-y.
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