Stream-TV sees profits leap 72%

Revenue up 51% for Russian Internet TV provider

MOSCOW -- Net profits at Russian Internet TV provider Stream-TV were up 72% to $6.1 million in the first half of 2008, the company reported Friday.

Revenue rose 51.2% to $58.7 million. The company's 2008 target revenue figure is $120 million, which would mark a 34% increase from last year's $89.9 million. Stream-TV is controlled by Sistema Mass Media.