UOL says net profit dipped in Q3, even as revenues climbed 52%

Universo Online (UOL), a leading internet services provider (ISP) in Brazil, said revenues for the three months to 30 September 2011 climbed 51.6% year-on-year to BRL312 million (USD177.1 million), boosted by a 74.7% increase in advertising revenue to BRL270.9 million and subscription revenue of BRL134.7 million (+3.8%). Moreover, UOL’s EBITDA improved by 59.3% to BRL97.6 million, and EBITDA margin rose by 1.2 percentage points to 25.5%. However, on a less positive note net income for the three-month period slipped to BRL31.6 million from almost BRL40 million in 3Q10, it said. The ISP counted a total of 1.8 million subscribers at 30 September 2011, up 8.9% year-on-year, including 1.3 million broadband users (up 71.5%) and more than 521,000 dial-up accounts.