Telecom Argentina has reported consolidated revenues of ARS7.466 billion (USD989.25 million) for the first three months of 2014, an increase of 23.1% from ARS6.064 billion in the year-ago period. Growth was mainly driven by mobile and fixed services sales, which increased by 23.7% year-on-year to ARS5.501 billion and 21.6% to ARS1.965 billion, respectively. Net income attributable to the company rose 10.8% to ARS889 million in Q1 2014 from ARS802 million in the year-ago quarter, while capital investments totalled ARS1.062 billion, an increase of 43.3% year-on-year. Telecom Argentina said that consolidated operating costs rose 23.0% year-on-year to ARS6.099 billion, attributed to higher labour costs, higher fees for services, maintenance and materials, taxes associated to revenues and higher costs of high-end handsets.
As at 31 March 2014 Telecom Argentina’s mobile customer base stood at 22.326 million (an increase of 4.1% year-on-year), including 19.913 million domestic wireless subscribers (up 4.2%) and 2.413 million mobile users of Paraguayan unit Nucleo (+3.3%). Argentine fixed broadband accesses rose 5.4% to 1.714 million and fixed telephony lines in service were relatively stable at 4.108 million.