TEO receives IPTV boost

Lithuanian service provider TEO announced a 5.6% year-on-year increase in TV customers in the third quarter, driven by IPTV sign-ups.

TEO said that at the end of September it had a total of 171,041 TV service users, up from 161,921 for the same period last year.

IPTV users increased 15.2% over the period to 102,658, though DVB-T customers dropped 6.1% to 68,383 customers.

Overall in Q3 TEO said that revenue was LTL181 million (€52.4 million), down 4.5% year-on-year. Net profit came in at LTL42.6 million, down 5.9% year-on-year.