Euro-VoIP Telio posts strong Q3

European VoIP provider Telio posted strong numbers in its recent earnings release. Operating profits increased by 43 percent in third quarter 2009 while revenues were up NOK 3.3 million coming in at NOK 96.3 million from NOK 93 million from the same quarter last year.

"We have continued to deliver record results for the last 10 quarters, and we are naturally very satisfied with revenue growth and 43 percent growth in operating profit compared to third quarter 2008," said Eirik Lunde, CEO of Telio Holding ASA in the release.

The Norway based VoIP provider has recently expanded its business into Holland and Denmark. Blogger Jon Arnold calls them the Vonage of Europe and has made a number of comparisons between the two companies offering that Telio is doing a number of things Vonage could do to increase their success. Vonage recently posted losses for Q3.

For more:
- read the release
- read Arnold's blog post

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