Portugal Telecom’s 2011 acquisitions in Brazil failed to lift the European operator, according to its latest results.
Q2 revenues fell 9.4 percent year-on-year to €1.6 billion, while profit was down 16.5 percent to €69 million.
However, revenues from its Brazilian business unit fell 9.4 percent to €754 million between April and June.
Despite seeing a rise in revenues from residential customers, PT’s domestic business unit saw a 6.5 percent decline to €678 million.
The operator said the residential growth – revenues were up 5.1 percent – was achieved thanks to the “strong performance” of Meo triple-play voice, broadband and Pay TV offering.
The number of Pay TV customers topped one million for the first time following 25.8 percent growth y-o-y, while the number of broadband customers was also up 12.3 percent to 1.2 million.
Encouragingly, the ARPU of its residential customers is continuing to rise – it is up 3.1 percent to €31.7.
This is despite the fact that private consumption in Portugal fell 5.7 percent during the first three months of the year.
The macroeconomic climate is also affecting PT’s enterprise sales – they were down 8.8 percent.
PT management did not comment on the results in its press release, but its share price has fallen three percent in the last two days.