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Spanish telecom giant Telefonica sees rise in profits
MADRID, Nov 07, 2012 (Xinhua via COMTEX) --
Spanish telecommunications giant
Telefonica on Wednesday announced that its profits for the first
nine months of 2012 rose by 26.4 percent in comparison to last
year.
Profits during the period reached 3.4 billion euros (4.4
billion U.S. dollars), it was confirmed by the Spanish National
Commission of Market Values.
The increased profit was achieved despite a small reduction in
income of 0.3 percent over the period. Telefonica's revenue fell
to 46.5 billion euros, but the profits were achieved thanks to a
5.4 percent reduction in spending to 31.6 million euros.
Telefonica continued to prosper in Latin America, with the
period seeing a 5.9 percent rise in income, while it saw a 6.4
percent fall in business in European operations.
Telefonica ended September with 314 million clients throughout
the world, 5 percent more than a year ago. Of those, 246 million
are mobile phone users. (1 euro=1.28 U.S. dollars)
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