Telecom Argentina reports strong growth

6 Aug 2008

Telecom Argentina has reported net income of ARS613 million (USD201 million) for the six months ending 30 June 2008, up 58% year-on-year. Revenues grew 20% to ARS5 billion, boosted by 26% and 36% increases at the company’s wireless and internet divisions respectively. EBITDA came in at ARS1.7 billion, up 19%. Despite a 3% rise in fixed lines in service to 4.3 million, wireline profitability continues to decline due to frozen tariffs and the inflation effect on the cost structure.

Argentina, Telecom Argentina (incl. Cablevision)