Optus: Revenue Up, Profit Down
Optus has reported an increase in operating revenue for its first quarter ending June 30, partially offsetting a drop in underlying net profit during the period.
A “solid quarter” of business transformation combined with expanded content partnerships, network investments, and “competitive products and plans” delivered a 4.8% increase in operating revenue to $2.095 billion and a 2.6% increase in EBITDA to $662 million.
Higher revenues from mobile and NBN propped up the telco’s numbers while a decline in its wholesale fixed revenue dampened the figures. Underlying net profit for the quarter was down 3.2% to $188 million.
The telco added 51,000 new NBN customers during the quarter for a total of 279,000, and slightly expanded the reach of its 4G network which now covers 96.4% of the population.
It also brought in 54,000 new postpaid subscribers and 85,000 4G mobile customers for the period.
“Our first quarter result is built on consistent investment in our network and the creation of content and new services that resonate with customers, with the promise of more to come,” said Optus CEO Allen Lew.
In addition to highlighting Optus’ “comprehensive” investment strategy into its regional and metropolitan network, Lew also promoted the telco’s content partnerships but did not disclose any specific numbers about how the deals had influenced its earnings.
“With National Geographic and our exclusive English Premier League offerings we are looking to expand the appeal of our content suite to even larger audiences with an appetite for premium entertainment and game-changing content,” Lew said.