Telecom Argentina announces first quarter results

11 May 2007

Telecom Argentina, former monopoly telco in the north of the country, has unveiled its quarterly results for the period ending 31 March 2007. They show a 28% growth in net revenue compared to the same period in 2006, to ARS2.055 billion (USD668 million), driven in the main by a 43% increase in revenues from cellular subsidiary Telecom Personal, to ARS1.272 billion. Growth in subscribers was exhibited in broadband, fixed line and wireless sectors, reaching 526,000, 4.12 million and 9.31 million respectively. Also contributing to company revenues were 1.33 million cellular subscribers of Paraguayan subsidiary Nucleo. The group’s bottom line was a net income of ARS135 million.