Revenue Down, Net Profits up at Telefonica in Q1

Telefonica has reported their first quarter results for 2009, and the numbers are mixed. Revenues have fallen to EUR 13.7 billion (yes, billion), which is down 1.4% in comparison to last year. When looking at this drop, one has to consider the negative effect exchange rate has had. This alone dropped growth by 4.7%.

The good news from the numbers comes in the form of net profit numbers. In this past quarter the company profited EUR 1.69 billion. That’s a 9.8% increase from the same period in 2008. Telefonica also reported 2.4 million new customers added to their database for the quarter. Most of the new customers have come from Brazil, Germany, Mexico and Argentina.

Looks like Telefonica is weathering the storm quite well.

[Via: CellularNews]