Portugal’s NOS says profits dip as costs rise

LISBON: Portuguese telecoms company NOS reported a 4.4% dip in its second quarter net profit, pressured by operating expenses despite an increase in revenue and customers, the company said.

NOS, whose businesses include cable television, posted a net profit of 43.3 million euros ($51.06 million) between April and June, up from 30.5 million euros in the previous three months but down from 45.3 million euros a year ago.

The company said profit was affected by a rise of 14.2% in operating expenses to 186.6 million euros in the second quarter, mainly due to the payment of premium sports content this year. In April and May 2020, NOS benefited from a suspension of payment for that content due to the start of the pandemic.