Telecom Argentina’s Net Jumps

Telecom Argentina posted a net profit of $97 million for the first quarter, a sharp increase from the $43 million posted a year earlier. Revenue was up 22 percent to $431 million. The company’s mobile customers rose 40 percent to 4.8 million users, while broadband customers increased by 73 percent to 226,000. Nortel, a subsidiary of Telecom Italia, owns 55 percent of Telecom Argentina.