Subscribe For Free

O2 Q3 revenue up 1.1pc to £1.436 billion

Manny Pham
October 26, 2017

143,000 customers were added in the quarter, 93,000 on contract and 50,000 prepaid

O2 saw revenue rise 1.1 per cent year-on-year to £1.436 billion and added 143,000 mobile connections in the three months ending September.

Reporting its financial results for the third quarter this year, the operator also confirmed that customer base now stands at 25.3 million, adding 93,000 contracts and 50,000 prepaid customers, in total 143,000 (82,000 excluding M2M).

Around 12.6 million customers are using 4G, a nine per cent increase year-on-year and contract churn excluding M2M remained at a “market leading” one per cent.

Mobile service revenue is up 0.4 per cent but operating income before depreciation and amortisation (OIBDA), is down 4.7 per cent year-on-year to £370m, due to regulatory impacts. OIBDA margin stood at 25.7 per cent. Capital expenditure for the quarter was £153 million.

Solid performance

O2 added it had gained new B2B business from Shop Direct, Saint Gobain, Bosch, Next, Edinburgh City Council, West London Mental Health NHS Trust and Northamptonshire Healthcare NHS Trust.

O2 CEO Mark Evans said: “I am pleased that we have delivered another solid performance this quarter, as we continue to demonstrate our strong customer focus with exciting new propositions, leading customer satisfaction and service improvements.

“This customer-led, mobile-first approach has driven further good growth in our customer base and high levels of customer loyalty.”

Share this article