Fuelled by a 19% increase in subscribers, Vivo, Brazil's largest mobile operator, said its operating revenue rose 9% year-on-year to 4.02 billion Brazilian reals (1.95 billion US dollars) in the first quarter of 2009. Across 2008, Vivo's revenues grew 14%.
As Vivo increased 2G coverage to 84% of the Brazilian population and HSPA coverage to 399 municipalities, capital expenditure leapt 101% to 541 million reals in the first quarter of 2009. Vivo said "self-supported data and value added services" revenue grew 29% year-on-year to 442 million reals. source: Vivo statement
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