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Telecom Argentina Q1 Profit Rises

Argentina's telecommunications company Telecom Argentina S A (TEO: Quote) announced a net Income of P$708 million for the first-quarter ended March 31, 2012, up 11% from the same period last year, due to a higher Operating Profit and positive financial results. Net income attributable to Telecom Argentina amounted to P$698 million, up 10% from last year.

Consolidated Revenues for the quarter increased by 24% to P$5.126 billion from the prior year quarter, mainly fueled by the Mobile Services and Broadband businesses.

by RTT Staff Writer

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