Slide #5 shows the sustained ramp-up in accesses growth to 7% year-on-year. The very strong performance in mobile, particularly in broadband, underpin accesses expansion to over 309 million, in spite of the 2 million mobile disconnections in Spain in Q1. Mobile net adds reached 4.3 million in the first quarter, 1.5x higher than a year ago, on the back of higher gross adds, churn control and a twofold rise in net adds in Latin America. We again posted record smartphone sales, accounting for 81% of commercial activity in Europe in the first quarter of 2012.Top line reacceleration was driven by 2 key strategic pillars, Latin America and mobile data, as shown in Slide #6. Revenues in Latin America posted high-single digit growth, with a remarkable 580 basis points acceleration quarter-on-quarter. This performance more than offset the decrease in top line in Europe.
Telefonica, S.A.'s CEO Discusses Q1 2012 Results - Earnings Call Transcript
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