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Swedish cable television firm Com Hem has posted first-quarter core profit in line with market expectations.
The firm reported Q1 revenue of SEK 1.228 billion, an increase of 9.2 per cent over the first quarter of 2014. Underlying EBITDA was SEK 577 million, up 5.9 per cent year-on-year.
Com Hem’s TiVo subscriber base now accounts for 30 per cent of the Swedish cable operator’s overall TV base, after growing by 25,000 in the first quarter to reach 189,000. Within the digital TV segment of its business it added 8,000 customers to reach 625,000 by the end of the quarter.
“Digital television revenue increased to SEK 442 million (€47.3 million) as a result of new sales of TiVo as well as migration of existing digital television customers to TiVo packages. The increase in revenue from broadband and digital television services was partly offset by a decrease in fixed telephony revenue to SEK 78m (90), due to lower usage,” said Com Hem in a statement.