Vivo reveals healthy second quarter results

30 Jul 2009

Vivo has announced that its wireless subscriber base has broken the 46 million barrier, ending June 2009 on 46.8 million. The cellco also revealed that second-quarter revenue rose by 3.8% year-on-year to BRL3.9 billion (USD2.1 billion). Net profit soared to BRL172.4 million from a BRL63.9 million loss following a 25% cut in the cost of goods sold and a 28% decline in expenses related to provisions on unpaid bills.