Portugal Telecom Q1 results

8 May 2008

Incumbent operator Portugal Telecom (PT) has reported operating revenues for the first quarter of 2008 of EUR1.58 billion (USD2.44 billion), up 7.9% year-on-year. EBITDA was up 4.3% to EUR595 million and operating income dropped 2.1% to EUR298 million. Net income was EUR140 million, a drop of 20.8% compared to the first quarter of 2007. Mobile arm TMN’s operating revenues increased 7.1% to EUR389 million for the quarter year-on-year driven by subscriber growth in post-paid and wireless broadband sectors. Wireline operating revenues were down 4.3% to EUR477.6 million compared to the same period twelve months previously as encouraging TV, wholesale and data and corporate revenues failed to make up for the impact of continuing fixed line losses and pricing pressure on retail revenues.

Portugal,PT Portugal (MEO),

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