Net Servicos reports 361% rise in Q2 profit

23 Jul 2009

Brazil’s largest pay-TV provider and broadband operator Net Servicos recorded net profit of BRL130 million (USD68 million) in the three months to 30 June 2009, up a massive 361% when compared to the BRL28 million income posted in 2Q08, the company said in an earnings statement. Quarterly revenues stood at BRL1.1 billion, up 24% year-on-year, while EBITDA grew 24% to BRL287 million; the EBITDA margin was unchanged at 26%. As at 30 June Net reported a total pay-TV base of 3.48 million customers, up 28% year-on-year, while broadband users reached 2.60 million (+45%) and voice telephony customers climbed 105% to 2.28 million. The operator’s quarterly ARPU stood at BRL130, down 3% compared to the same period last year. Second-quarter CAPEX was BRL250 million, up 28% year-on-year.