World VoIP NewsNet Servicos posts fall in Q1 net incomeNet Servicos posts fall in Q1 net income

Net Servicos posts fall in Q1 net income

voip, mobile phones, mobile deal, mobile networks, mobile provider, mobile operators
Brazil’s largest cable TV and internet services provider by subscribers, Net Servicos de Comunicacao (Net Servicos) said first-quarter profit for the three months to 31 March fell 62% year-on-year on the back of a rise in operating costs and other expenses.

The publication of its financial results saw the group’s share price slump to a seven-month low in early trading.

The cablecos reported net income of BRL45.9 million (USD26 million) in the period under review, down from BRL120.1 million in 1Q09, although first-quarter revenues climbed 16% y-o-y to BRL1.26 billion. Group operating costs increased 17% to BRL601.4 million, Net Servicos said, while the operator’s financial expenses more than doubled to BRL76.6 million, impacted by a decline in the local currency, the real, against the US dollar, which increased the net value of the cable provider’s foreign-currency debt.


© 2002-2018