Telefonica has reported that 1Q profit rose 7.7%, fueled by the acquisition of the UK’s O2 and the growth of broadband services in Spain. Net income rose to EUR1.26 billion (USD1.7 billion) from EUR1.17 billion a year earlier. Sales rose 15% to EUR13.7 billion while net profit was EUR1.25 billion. EBITDA rose 9.6% to EUR5.11 billion.
Revenue from the company’s domestic operations increased 5.5% to EUR5 billion. Sales from fixed line broadband services jumped 22% to EUR675 million while Telefonica Moviles Espana reported a 7.9% increase to EUR2.3 billion. Sales from its Latin American operations climbed 8.5% to EUR4.69 billion, while revenue from its European businesses outside Spain grew 47% to EUR3.5 billion.