MADRID, Feb 26: Spanish telecoms company
Telefonica SA said Friday its fourth quarter net profit rose 22 percent as an
increase in customer numbers in Latin America helped boost revenue, reports AP.
The company said profit in the October-December period
totaled euro2.44 billion ($3.29 billion), compared to euro1.99 billion in the
same period of 2008.
Revenue for the quarter was up 1.2 percent, from euro14.80
billion in the same stretch of 2008 to euro14.97 billion.
The company said there was a rise in commercial activity
across all areas of operation in the fourth quarter, with the net increase in
mobile customers over 6.8 million.
Telefonica said its Latin American operations “delivered a
solid operating and financial performance,” posting the first positive
year-on-year growth in net customer additions in 2009.
Revenue for the region rose to euro6.33 billion in the
quarter, up 8 percent from the same period in 2008. The figures were an
improvement on the third quarter, which saw revenue in the region off 2.3 per
cent at euro5.6 billion.
Operations in Spain continued to suffer, with revenue
down 1.6 percent to euro5.05 billion, although the company said this marked the
second straight quarter in which the rate of decline slowed. In the third
quarter, revenue had fallen 8.9 percent.
For the entire year Telefonica said its net profit was up
2.4 percent to euro7.77 billion, from euro7.59 billion in 2008. Revenue for the
12-month period was down 2.1 percent to euro56.73 billion.
In midmorning trading Telefonica shares were up 1.2
percent at euro17.10 ($23.07).