Telefónica Posts Strong Results Despite Declining Fixed-Lines

Spanish incumbent operator Telefónica Group has recorded strong growth in revenues and net profits for the first half of 2006, as growth in mobile, broadband and international activities offset declining income from the group's traditional Spanish fixed-line business. Revenues for the group as a whole were up by 46.4% y-o-y to EUR25.162bn, although this figure was boosted considerably by appreciation of Latin American currencies against the euro. Operating income grew by 40.8% to EUR4.896bn, while net income increased by 40.3% on the same period last year to EUR2.574bn.

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