MADRID, Spain-The Telefonica Group, comprised of the company’s many telecom holdings, reported increased revenue for the first half of 2000, led by large gains in the group’s wireless businesses.
As a whole, The Telefonica Group posted operating revenue of $11.8 billion from January to June of this year, a 23.7 percent increase compared with the $9.5 billion reported for the first half of 1999. Telefonica’s domestic and international wireless assets contributed $7.4 billion of the company’s total operating revenue for the first half of 2000.
For the second quarter of the year, Telefonica reported operating revenues of $6.1 billion, a 25.1 percent increase compared with the $4.8 billion reported for the second quarter of 1999.
Net income fell 3 percent for the first half of 2000 to $882.6 million, a return of 27 cents per share, from the $910.4 million, a return of 29 cents per share, reported last year. Second-quarter net income dropped 15.7 percent to $573.8 million, a return of 17 cents per share, from the $680.3 million, a return of 21 cents per share, posted for the second quarter of 1999.
Telefonica Moviles Espana, the company’s domestic wireless operation, reported net additions to its client base of 2.3 million customers for the first six months of 2000, a 45.7 percent increase compared with the same time period last year. The division’s total customer base as of June 30 was 11.4 million subscribers.
Telefonica International’s mobile phone clients rose 68.1 percent during the first half of the year, compared with the first half of 1999, to 7.6 million customers. Telefonica noted prepaid services were key contributors to its international wireless growth.
