UPDATE 1-Telecom Argentina net profit exceeds forecasts

Tue Apr 30, 2013 10:18am EDT

BUENOS AIRES, April 30 (Reuters) - Telecom Argentina SA , one of Argentina's top telecommunications companies, reported on Tuesday a net profit of 813 million pesos ($158.7 million) for the first quarter, up 15 percent from a year ago.

The market had expected the company to report a net profit of 777 million pesos, according to the median forecast given in a recent Reuters poll of analysts.

Revenues rose 18 percent compared to a year ago to 6.1 billion pesos, led by strong mobile phone and Internet activity.

Telecom Argentina is controlled indirectly by Telecom Italia . The company accounts for about 10 percent of the weighting in Argentina's Merval stocks index.