Telecom Argentina reported consolidated revenues of ARS 82.5 billion in the first quarter of 2021, down 7.8 percent year-on-year after adjusting for inflation of 42.6 percent in March. However, net income came to ARS 9.0 billion in Q1, up 139.2 percent on the year-earlier result thanks to strict cost control and accounting profits from FX differences.
The company’s total mobile subscriber base came to 21.0 million on 31 March, down 0.5 percent year on year but an improvement on an annual fall of 2.9 percent in 2020. Customers at Personal Argentina dipped 0.2 percent year on year to 18.8 million but grew by 363,000 compared to the previous quarter, while those at its Nucleo Paraguay subsidiary came in at 2.2 million, down 2.8 percent.
Postpaid clients represented 42 percent of the subscriber base in Argentina at the end of Q1, growing compared to the previous quarter due to a positive net portability.
Total cable TV subscribers across Argentina, Paraguay and Uruguay rose by 1.2 percent year on year to over 3.5 million, with broadband accesses in Argentina also growing, by 2.1 percent year on year, to 4.2 million.
