UOL 2Q profits up 84% driven by subscriber gains

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.

Brazil, Universo Online (UOL)