5G and O2 Business launches signal significant quarter for MNO
O2 reported an increase in revenue for Q3 as it launched 5G and consolidated its B2B activity.
Revenue stood at £1.6 billion, a 4.1 per cent year-on-year increase, while OIBDA was £489 million, a 5.7 per cent increase year-on-year.
The operator stated the revenue increase was mainly driven by “the continued success of innovative tariffs such as Custom Plans, higher handset revenues, progress in the Smart Metering Implementation Programme and increased MVNO revenues”.
O2 parent Telefónica’s total UK customer base reached 34.1 million in the quarter, a 5.6 per cent year-on-year increase. This includes customers on Tesco Mobile, Sky Mobile, Lycamobile and giffgaff. The number of O2 customers is 26 million.
Q3 also saw O2 launch 5G in six cities, and also consolidate its B2B activity across its enterprise and wholesale partners into O2 Business, with the intention of helping business customers use new technology to solver their problems.
O2 UK CEO Mark Evans said: “Our Q3 performance continues the strong momentum we saw in the first half of the year, powered by a relentless focus on our customers through award-winning coverage and great offerings such as flexible Custom Plans and limitless data.
“We’re moving at pace with our 5G rollout, already live in six UK cities rising to 20 by the end of the year. 5G offers critical support to the UK’s digital economy, supporting jobs and growth. That’s why we welcome Ofcom’s recent statement updating the rules for the planned auction of more 5G airwaves. This will help operators to deliver greater value and better connectivity to the public.”