Telio announces 2Q results, net profit rockets 568%

15 Aug 2008

Norwegian broadband telephony provider Telio has announced results for the second quarter, posting a net profit of NOK20.6 million (USD3.82 million) for the three months ended 30 June 2008, a 568% rise year-on-year. Revenues also increased, although less dramatically, rising 7% from NOK90.4 million last year to NOK96.7 million. Telio attributed the strong performance to a reduction in operating expenditure, also announcing that its VoIP subscribers had increased by 2,972 over the three-month period to 151,700. According to TeleGeography’s GlobalComms database, Telio launched Norway’s first commercial VoIP offering in February 2004.

Norway, Telio Norway