[November 11, 2009] Telecom Argentina announces financial results for Q3 and first nine months of 2009 Tweet (Telecomworldwire Via Acquire Media NewsEdge) Telecoms group Telecom Argentina (NYSE:TEO)(BASE:TECO2) announced on Tuesday its consolidated financial results for Q3 and first nine months of 2009. The company reported net income of ARS1,006m for the nine-month period ended 30 September 2009, a 21% increase when compared to the same period of 2008. During the period, consolidated net revenues increased by 14% to ARS8,861m and operating profit increased by 32% to ARS2,035m. During the first nine months of 2009, revenues generated by fixed telephony (voice, data transmission and Internet) amounted to ARS3,043m, an increase of 13%, as compared to the same period of 2008. Data transmission revenues amounted to ARS197m, an increase of 24% as compared to the same period of 2008, while revenues related to Internet reached ARS768m, an increase of 47% as compared to the previous year. In addition, ARPU reached ARS68 in Q3 2009, an increase of 21% when compared to Q3 2008. The cost of services provided, administrative expenses and selling expenses totaled ARS6,826m for the first nine months of 2009, which represents an increase of 9% as compared to the same period of the previous year. The company's consolidated financial and holding results for the first nine months of 2009 resulted in a loss of ARS317m, an increase of ARS205m as compared to 2008. This was mainly due to the loss registered in net foreign currency exchange equivalent to ARS293m. ((Comments on this story may be sent to [email protected])) (c) 2009 M2 COMMUNICATIONS [ Back To TMCnet.com's Homepage ]