TV boost for Portugal Telecom

Portugal Telecom’s fixed-line operations received a boost from TV in the second quarter, with pay TV customers up 22,000 during the quarter or 9.8% year-on-year to 1.27 million, despite the country’s economic difficulties and tough competition in the market. 

The operator’s triple-play base grew by 31,000 during the quarter or 16.7% year-on-year to reach 894,000.

Residential service revenues were up 2.2% to €179 million despite intense price competition.

Overall, Portugal Telecom posted 2Q revenues of €1.54 billion, down 5.5% and EBITDA of €491 million, down 13.8%.

Oi, the Brazilian operator in which Portugal Telecom holds a 23% stake, saw pay TV subscribers jump 84.8% year-on-year to 900,000. However, Oi’s overall EBTIDA fell by 16.4% as a result of competition and investment costs, dragging Portugal Telecom’s overall performance down.