Spanish Telefonica Moviles says first-quarter profit up 17.9 percent

0 Comments | AFP, May, 2004

MADRID (AFP) — The biggest Spanish mobile telephone operator Telefonica Moviles said that first quarter profit jumped 17.9 percent as it gained a record total of 2.3 million new clients.

Net profit rose to 423.25 million euros (513 million dollars), at the upper end of analysts' forecasts.

The wireless operator said it had a total of 54.4 million clients at the end of the first quarter, up by 30 percent on a 12-month basis and five percent above the fourth-quarter 2003 level.

Including clients recently acquired through the purchase of BellSouth's mobile assets in the United States, Telefonica Moviles said it had a total of 66 million on March 31.

First-quarter sales increased to 2.560 billion euros from 2.129 billion, in line with estimates for 2.5...