Freenet reports lower than expected first quarter results

9 May 2008

German cellco and internet provider Freenet has reported a 75% fall year-on-year in first-quarter net income to EUR12.3 million (USD18.9 million) following an accounting change and lower sales. Revenue slipped to EUR442.3 million from EUR452.4 million. The company also revealed that during 2007 it lost 90,000 broadband customers. Freenet is currently in the process of acquiring rival operator Debitel for EUR1.6 billion.

Germany, freenet