Telefonica said its revenue rose 1.4% year-on-year in organic terms in the first quarter to 15.44 billion euros, thanks to 5.7% growth at Telefónica Latinoamérica and 2.4% growth at Telefónica Europe, which offset the 5.7% fall at Telefónica España. Telefonica said its sales were negatively impacted by mobile termination rates cuts, slicing 1.0 percentage points off revenue growth.
Telefónica said its "mobile accesses reached 223.1 million by the end of the first quarter of 2011, up 8% year-on-year." Spain's largest telecoms company said that "increased tariff segmentation and the availability of a higher range of handsets with more competitive prices across all the segments," enabled it to increase its mobile broadband connections to 26.5 million at the end of March 2011, compared with 16 million a year earlier. The Madrid-based company also said its capex rose 30% to 1.55 billion euros in the first quarter. source: Telefonica statement