TEO ups IPTV subscribers to 25,000 in Q1

April 18, 2008 – Lithuanian telco TEO has announced that it reached 25,000 subscribers for its IPTV service at the end of the first quarter of this year, up from 17,500 at the end of last year.

Revenues in the first three months of this year totalled LTL 206.8mn (US$ 94.23mn), up 11.3% year-on-year.  Of this total, TV services accounted for 1.5% or around LTL 3.1mn.  Net profit for the period reached LTL 45.2mn, up 19.4% year-on-year.  TEO’s total number of broadband subscribers rose by 11,000 during the first quarter of this year to reach 270,100.

The company reports that it allocated LTL 17.9mn for investments between January and March 2008, of which LTL 13.2mn was spent in network development.