Telecom Argentina enjoys strong first quarter

4 May 2011

Telecom Argentina has posted revenues of ARS4.1 billion (USD1 billion) for the first quarter of 2011, up 27% year-on-year and helping to boost net income by 53% to ARS628 million. The gains are largely due to growth from the company’s wireless and broadband services, and a recovery in the fortunes of the local economy. ‘In the next three years, we’re going to invest ARS10 billion,’ CEO Franco Bertone told a news conference, adding that ‘this year we’re going to invest ARS2.5 billion.’ The number of wireless customers at its Argentine operations rose 13% year-on-year to 16.9 million at the end of March, while the number of wireless customers at its Paraguayan unit rose 5% to 1.9 million.

Argentina, Telecom Argentina (incl. Cablevision)