Telefonica 1Q07 results

Telefonica announced 1Q07 net income up almost 8% to €1.26bn, on revenues up 15% to €13.7bn. Revenues are coming 37% from Spain, 34% from Latam and 27% from Rest of Europe. Telefonica now has 206m customers in Europe and Latin America, of which 149m are mobile subscribers (+13%). Mobile subscribers in Latam reached 85.6m mark (up 16%). It has 8.5m DSL users, of which 4m in Spain, 4m in Latam and 0.5m in Rest of Europe. It garnered 420k IPTV customers in Spain, up 40%. During the quarter, Telefonica capex amounted to €1.4bn (+6.5%). Telefonica Spain contributed 48% to the group' s OIBDA with €2.4bn, of which mobile contributed with €1bn (+8%). Latam contributed almost 34% to group' s OIBDA with €1.7bn (+12%); and Rest of Europe contributed 18% with €0.9bn.

Telefonica expects full year revenues to increase between 6% and 9 %.