CANTV profits up 36.9% on mobile and broadband revenue rises

26 Apr 2007

Venezuelan incumbent telco CANTV has posted net income of VEB252 billion (USD117 million) in the first three months of 2007, a year-on-year rise of 36.9%, largely driven by growth in mobile and broadband revenues, the company said in a statement. Total revenues for the quarter were VEB1.85 trillion, up 28.1% from VEB1.44 trillion a year before. Mobile turnover reached VEB921 billion, a 40.7% year-on-year increase, while broadband sales rose 36.2% to VEB266 billion. CANTV’s mobile subsidiary Movilnet’s subscriber base grew by 45.5% in twelve months to 8.1 million by the end of March, whilst broadband subscribers stood at 529,000 at that date, up 53.8% year-on-year.

Venezuela, CANTV