PT FY11 revenues increase 64.3%; net income slumps following dual acquisition

Portugal Telecom (PT), Portugal’s largest fixed line operator by subscribers, has reported revenues of EUR6.147 billion (USD8.200 billion) for the twelve months ended 31 December 2011. This figure represents an increase of 64.3% compared to the EUR3.742 billion generated during 2010. EBITDA for the year grew 46.7%, from EUR1.492 billion to EUR2.188 billion, while CAPEX increased 53.3% to EUR1.224 billion

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OVETEL PT FY11 revenues increase 64.3%; net income slumps following dual acquisition