Telefonica reports 39% increase in Q3 profits

Telefonica's third-quarter net profit rose 39%, boosted by a 1.4 billion euro ($2.06 billion) gain from the sale of a stake in Endemol and sustained growth in key Latin American and Spanish markets, an Associated Press report said.

The Associated Press report said Telefonica's net profit rose to 4.02 billion euros ($5.9 billion) in the quarter from 2.90 billion euros a year earlier.

Operational income before depreciation and amortization, or OIBDA, stood at 6.98 billion euros ($10.25 billion) for the quarter, up 29% from 5.41 billion euros, the report said.

The Associated Press report said net profit for the first nine months was up 51% at 7.84 billion euros ($11.51 billion).

Revenue increased 4.8% to 14.19 billion euros ($20.84 billion) from 13.54 billion euros in the same period last year, the report added.

The number of Telefonica's Spanish cellular customers also rose 6.7% in the period to 22.4 million.

Telefonica's high-growth Latin American division reported a revenue increase of 11% to 5.05 billion euros ($7.41 billion).

The report said total clients in the region rose nearly 15% to 126.4 million at the end of September as the company's Latin American mobile customer base grew 20% to 94.7 million.

Telefonica said worldwide customers stood at 218.6 million, 11% more than in the same period last year, the report further said.

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