Buongiorno revenues fall four per cent in Q1

Hit 56.9m euros in the three months to March.

The Italian mobile VAS specialist said its B2B operation saw sales slip seven per cent to 22m euros year on year, while B2B held up a little better down one per cent to 34.04m euros.

Net profit fell to 719,000 euros from 3.25 euros. EBITDA stood at 6.3m euros, down 26 per cent.

Buongiorno attributed the slippage to a delay in the launch of several services in the connected devices unit, as well as an anticipated slow-down in the B2TV activities, which it no longer considers a strategic asset.

It's also the case that Buongiorno has invested in new business ideas such as Winga (gambling), Cashlog (payments) and HelloTxt (social media) as well as acquiring its compatriot, the music specialist Dada.net.

Andrea Casalini, CEO of Buongiorno, said: “The results of the first three months of 2011 are in line with the business plan which anticipates, in light of heightened marketing spending, the continued growth of revenues during the year.