Telecom Argentina posts 28% profit

Telecom Argentina (Buenos Aires), one of Argentina’s top telephone companies, said on Tuesday its fourth-quarter net profit jumped 28 percent as the company’s mobile phone and broadband sales expanded.

The company — controlled by Telecom Italia — reported a net profit of 512 million pesos ($124.7 million) for the last quarter of 2010, up from 399 million pesos a year earlier, according to a statement sent to the Buenos Aires Stock Exchange.

The figure came in a shade above the median forecast for a net profit of 500 million pesos, given in a Reuters poll of four analysts.


Telecom Argentina (Buenos Aires), one of Argentina’s top telephone companies, said on Tuesday its fourth-quarter net profit jumped 28 percent as the company’s mobile phone and broadband sales expanded.

The company — controlled by Telecom Italia — reported a net profit of 512 million pesos ($124.7 million) for the last quarter of 2010, up from 399 million pesos a year earlier, according to a statement sent to the Buenos Aires Stock Exchange.

The figure came in a shade above the median forecast for a net profit of 500 million pesos, given in a Reuters poll of four analysts.

Net sales totaled 4.20 billion pesos in the fourth quarter, up from 3.37 billion pesos in the same period of 2009.

Telecom Argentina also reported a 29 percent larger 2010 net profit of 1.82 billion pesos ($443 million), up from 1.41 billion pesos in 2009.

Annual net sales jumped 20 percent to 14.68 billion pesos, driven mainly by mobile phone and broadband Internet service, the company said.