Internet service providers (IAPs) revenue increased by $259,255,617 in the first quarter of 2020.
This was revealed in the latest sector report by Potraz.
“Total revenue by Internet Access Providers (IAPs) grew by 51.4% to record $763,341,251 from $504,085,634 recorded in the 4th quarter of 2019.”
However, Potraz reports that operational costs have growing in high margins than revenue over the past years.
Operational costs for IAPs grew by 81.4% with the sector recording $755,267,634 compared to $416 ,309,915 in the 4th quarter of 2019.
The regulatory authority states that the increase in operational costs is due to the bandwidth costs purchased in foreign currency.