Earnings: Telefonica Profits Rise 22 Percent Boosted By Latin American Units


Spanish telecoms group Telefonica (NYSE: TEF) reported a first quarter 22 percent rise in profits, boosted by its Latin American mobile phone units. Net income rose to 1.54 billion euros from 1.26 billion euros a year ago. Latin American sales climbed 10 percent to 5.16 billion euros, while revenues in Spain were up 1.9 percent to 5.1 billion euros. Telefonica Europe, which includes operations in the UK, Ireland, Germany and the Czech Republic, meanwhile, fell 1.7 percent to 3.47 billion euros. The company met analyst expectations, which put the company

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