Portugal NOS' quarterly profit drops 15% as 5G capex ups amortisations

Nos SGPS SA

26/04/2023 17:38

LISBON, April 26 (Reuters) - Portuguese
telecommunications firm NOS  NOS.LS  posted on Wednesday a 15%
drop in first-quarter net profit as amortisation costs rose
after strong investments to massify its fast-speed 5G network.
    NOS, whose businesses include cable television and cinemas,
made a net profit of 34.9 million euros ($38.55 million) between
January and March.
    Consolidated revenues rose 2.2% to 381.4 million euros in
the quarter from a year ago, of which 369.2 million euros were
from its core telecommunications business.
  
($1 = 0.9052 euros)

 (Reporting by Sergio Goncalves;Editing by Andrei Khalip)
 ((sergio.goncalves@thomsonreuters.com; +351213509204; Reuters
Messaging: sergio.goncalves.reuters.com@reuters.net))