The recession has hit most of us in someway or another but according to Telefonica’s revenue report they have managed to grow slightly ending the first half of the year with a massive 3.62 billion EUR in profits.

Most of that growth was generated from Latin America, which contributed a 39.8% to consolidated revenues and a further 39% to OIBDA. Although Telefonica Europe also reported growth albeit not as impressive numbers but still s profit nether the less.

The main headlines of the story really is that the group’s wireless subscriber base had exceeded 200 million at the end of June. During the first quarter operator added a little more than 5 million customers and approx 2.7 million in the second. For further information go to intomobile.com