15 Aug 2007
Brazilian internet service provider (ISP) Universo Online (UOL) reported net profits of BRL37.7 million (USD19 million) in the three months to 30 June, up 84% from BRL20.5 million in the same period of 2006, writes BNamericas citing a company statement. UOL’s gross revenues climbed 23% year-on-year to BRL183 million while revenues from subscribers rose 9% in the same period to BRL131 million on the back of strong subscriber gains. The ISP reported 915,000 paying broadband subscribers at end-June, up 31% year-on-year. Sales derived from advertising leapt 83% to BRL52.3 million as the company attracted a number of high profile ‘brand’ advertisers and sold more products. UOL’s second quarter EBITDA doubled from BRL24.6 million to BRL51.8 million, and the EBITDA margin reached 40% from 22% in 2Q 2006.