This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Telefonica Q4 Profit Up On Latin American Markets


MADRID (AP) â¿¿ Spanish telephone company Telefonica said Friday its net profit doubled in the last quarter due to strong growth in Latin America.

The company said net profit was ⿬2.7 billion ($3.6 billion) in the fourth quarter, up from ⿬1.3 billion for the same period last year.

Net profit was ⿬5.4 billion ($7.2 billion) for January to December, down 47 percent from the previous year, when it enjoyed a one-off gain, Telefonica said in a statement.

The company said its net profits were also dampened by ⿬1.9 billion ($2.5 billion) in layoff costs in Spain.

Overall operating income before depreciation and amortization, or OIBDA, fell to ⿬20.2 billion ($26.9 billion) in 2011 from ⿬25.8 billion the previous year. For the quarter it rose 10.2 percent to ⿬5.96 billion ($7.93 billion).

Telefonica said sales for the quarter were down 1.8 percent to ⿬16.2 billion ($21.5 billion). They rose 3.5 percent for the year to ⿬62.8 billion ($83.5 billion).

Revenue in Latin America was up 2.5 percent to ⿬7.7 billion ($10.2 billion) in the quarter and increased 13.5 percent to ⿬29.2 billion ($38.8 billion) for the whole year. OIBDA for the region was up 7.9 percent at ⿬3.2 billion ($4.3 billion).

Telefonica said revenue from the region now accounts for 47 percent of the total. Of the company's 306 million clients, 201 million were now in Latin America, it said.

In contrast, revenue in Spain, which accounts for a quarter of the total, fell by 9.5 percent to ⿬4.2 billion ($5.6 billion).

Spain, with nearly 23 percent unemployment, looks set to fall back into its second recession in three years.

OIBDA for the country was down 5.1 percent at ⿬1.7 billion ($2.3 billion), the company said. It does not give a regional breakdown of profits.

Telefonica's shares were up 0.2 percent at ⿬12.9 ($17.2) in trading Friday in Madrid.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs