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O2 Q3 revenues down 2.1pc to £1.42 billion

Alex Yau
October 27, 2016

The operator also claimed that its customer net additions for Q3 rose by 3.3 per cent to 232,000

O2’s latest revenues for Q3 have seen a year-on-year decline of 2.1 per cent from £1.43 billion to £1.42 billion.

The figures were released by the operator today (October 27) in its recent financials.

Despite the decline in revenue, O2’s total customer net additions in Q3 excluding machine-to-machine (M2M) grew 3.3 per cent annually to 232,000. Its prepay mobile base also rose by 32,000 customers.

The operator currently has 25.4 million subscribers, more than 10 million of which are using 4G. These latest numbers exclude customers on Tesco Mobile or Lyca Mobile accounts. It also claimed its churn was ‘market leading’ at 0.9 per cent for Q3.

New business

O2 added that it had gained new business from William Hill, Lloyds Banking Group, McDonalds, Surrey Police and the Home Office. It claimed that O2 now has a 40 per cent share of accounts and local and central government, whilst also being a provider to half of the UK’s police forces.

CEO Mark Evans said: “More customers are choosing to join and stay with us every quarter due to our superior mobile service experience and the benefits of our unique propositions such as O2 Refresh and O2 Priority.

“Our customers are consuming more data, spending more and rewarding us with the highest loyalty in the industry demonstrating the success of our unique customer-led, mobile-first strategy. We will continue to give customers more reasons to stay with us by providing the benefits that only come with being part of the O2 family.”

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