Net’s net doubles on sharp rise in revenue

25 Jul 2011

Brazilian cableco Net Servicos says second-quarter net income doubled to BRL124.9 million (USD81 million) in the three months ended 30 June 2011, from BRL56.5 million in the same period of 2010, driven by a sharp rise in net revenue to BRL1.63 billion from BRL1.30 billion. Dow Jones Newswires reports that the cable operator booked second-quarter earnings before interest, taxes, depreciation and amortisation (EBITDA) of BRL465.5 million, up from BRL374.9 million in the same period of 2010; EBITDA margin was 28.6%, roughly unchanged year-on-year.