Telefónica reported a 1.3% year-on-year rise in revenues in the second quarter to 12.73 billion euros on an organic basis. Although revenues fell 9.1% in Spain and 4.4% in Germany, there was a 0.1% increase in the U.K. In Brazil, revenues climbed 1% and in the rest of Latin America 11.3%. Telefónica said revenues have reached the bottom in its home market of Spain.
César Alierta, Executive Chairman, added: “First-half results started to reflect the benefits from the investments in network modernisation carried out in recent quarters, which are enabling us to further differentiate our offering in key markets. This increased differentiation resulted in an acceleration of commercial activity in the second quarter, with net additions of two million mobile contracts, five million smartphones and over six hundred thousand pay TV customers. All these are high-value services contributing to boost average revenue per customer and to reduce churn." source: Telefónica presentation
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