Telefónica has increased its revenue forecasts for 2005 after a better than expected third quarter. The Spanish telco saw net profits for the nine months to the end of September jump 36.2% year-on-year to EUR3.25 billion, ahead of analysts’ expectations and already surpassing its net profit figure for the whole of 2004. Sales for the nine-month period rose 24.2% to EUR27.4 billion. The firm says it now predicts full-year revenues will be up by more than 15% on last year, beating its original growth forecast of between 12% and 15%. Figures for the third quarter show sales up 32.2% to EUR10.04 billion while net profit jumped more than 53%.
At the end of September Telefónica had 147.7 million customers worldwide, including all its fixed line, internet, pay TV and cellular operations. Mobile subscribers contributed 89.1 million lines, including 19.6 million in Spain and 65.6 million across Latin America. The group also served 4.4 million broadband clients in Spain, Latin America and the Czech Republic, where it recently acquired the government’s majority stake in Cesky Telecom.