Telefonica (NYSE: TEF), O2’s parent company, reported earnings today, revealing that its UK unit, its largest in Europe, was “outperforming” in the “slower market,” thanks in part to the “continued success of high-end devices,” such as the iPhone which it carries exclusively. First quarter revenues climbed 7 percent (based on local currency) to 1.56 billion euros (£1.4 billion). O2, the UK’s largest operator by subscribers, closed the quarter with a total of 20.4 million customers (exclusing Tesco customers), as the number of valuable contract customer net adds surged 18.4 percent. More at mocoNews.net.