Portugal Telecom adds 26,000 subs for Meo in Q1
May 19, 2008 - Portugal Telecom has revealed in its results for the first quarter of this year that it added 26,000 subscribers to its "Meo" IPTV service during the period, bringing the total to 47,000.
The telco added that it gained 7,000 new subscribers in January of this year, 8,000 in February and 11,000 in March. These net additions do not include subscribers to the Meo satellite TV service launched earlier this year. Recently appointed CEO Zeinal Bava commented last month that investors should expect positive surprises in subscriber numbers for the IPTV service for the first quarter. Snr. Bava has also recently said that Portugal Telecom aims for Meo to be available to 90% of the country’s population by the end of this year. The IPTV service currently offers a total of 107 channels.
Total operating revenues for the period reached €1.58bn, up 7.9% year-on-year, while net profit fell 20.8% to reach €140mn.
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