Cablevisión Holding announced its financial results for the third quarter of 2017. The company reported revenues of AR$ 10,545 million in Q317 (USD 602.8 million), a 31.9% increase compared to the AR$ 7,995 million (USD 457 million) registered in Q316. The net profit for the quarter was AR$ 1,348 million (USD 77 million), up 19.8% from previous year.
Revenues were driven by an increase in the number of broadband subscriber, speeds upgrades to our current customer base and the up selling of value added services with price adjustment according to inflation, the company said in the report.
Cable TV revenues were AR$ 6,327 million (USD 361.6 million, + 27.8% annual in local currency). Internet service reported AR $ 3,412 million (USD 195 million, + 69.7%) IDEN telephony AR$ 628 million (USD 35.8 million, + 7.4%) and other services the remaining AR$ 177 million (USD 10.1) millions).
At the end of the third quarter, Cablevision had 3.36 million pay TV subscribers in Argentina (+ 0.6% YoY) and 144,000 in Uruguay (+ 1.5%). The company also reported 2.3 million Internet customers (+ 6.9%).