UOL reports 11% rise in 1Q net income
One of Brazil’s leading online media portal and internet companies, Universo Online (UOL), reported net income of BRL35.0 million (USD20.7 million) in the three months ended 31 March 2008, up 11% on the same period of 2007, with advertising and other revenues climbing 56% year-on-year to BRL53 million. Earnings before interest, tax, depreciation and amortisation (EBITDA) totalled BRL35 million in Q1 2008, up 1% on Q1 2007; the EBITDA margin was unchanged at 25%. UOL said that excluding non-recurring items in 1Q08 and 1Q07, EBITDA increased by 29% over the same period. The number of paying broadband subscribers reached one million in March, 2008, an increase of 20% over March 2007.
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