Telefonica’s pay-TV subscriber base increases by 64.5% in H1

July 30, 2007 – Spanish telco Telefonica registered over 1.3mn pay-TV subscribers in the first half of 2007 across all markets, up 64.5% from the same period of the previous year.

The company had 450,925 pay-TV subscribers in its native Spain by the end of June 2007, a net increase of 32,307 in the second quarter of 2007.  Telefonica recorded a net profit of €3.83bn in the first six months of 2007, up 66% from the same period of the previous year and strengthened by a 35% increase in broadband customers across all markets.  Total revenue for the period reached €27.826bn, an increase of 10.6% by the same comparison.

The group has raised its forecast for the year to a 10-13% increase in annual earnings, compared to a previous prediction of an 8-11% rise.  The group has however reduced the earnings forecast for its German unit, stating that the market remains “challenging”, with full year sales now expected to rise by 7-10%.