The second largest telephone company in Europe, Telefonica SA, has reportedly registered a huge profit in the fourth quarter which was actually much larger than what was initially expected by the company. It was reported that the phone company had actually made a 22 per cent increase in its net profit for the fourth quarter which is said to be stimulated by the growth in revenue in all the regions of Latin America.

It was also reported that the net income had risen to 2.44 billion Euros which amounts to about $3.31 billion from what was actually about 2 billion Euros in the previous year and it was surprising to all the analysts as they had expected only a profit of about 2.2 billion Euros. The sales too had risen by 1.2 per cent and settled on 14.98 billion Euros while only about 14.58 billion Euros was expected.

After this profit, the company is expecting another rise as they hope Latin America is going to add growth they also expect to increase the dividends throughout the year 2012. A further revenue growth was also forecast for the year
2010.