Thursday, 14 February 2019 11:44

NBN affects Optus too, as profits fall

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Australia's second largest telco Optus suffered a fall in net profit for its third quarter, with a fall of 32% year-on-year from $254 million to $172 million.

But the company's revenue rose by 5% to $2.4 billion, underpinned by mobile services growth.

The company reported EBITDA of $664 million for the quarter, a drop of 8.7% from the $727 million for the corresponding quarter a year ago. This was put down to lower payments from NBN Co for customers who migrated to the broadband network.

For the nine months to 31 December, profit was slightly better, falling 25.5% to $431 million, compared to the $578 million of the corresponding quarter in the previous financial year.

Optus' mobile revenue rose by 11% due to sales of equipment and the addition of 129,000 post-paid handset customers and 20,000 mobile broadband customers.

optus 3q

The company's NBN customer base grew by 124,000, taking it to a total of 540,000.

Optus chief executive Allen Lew said, “We are proud to be first in market with a 5G home broadband service. Our customers can continue to expect more innovation, entertainment services, value added solutions including cyber security and game changing customer experiences in the future.

"Optus is pushing the boundaries of traditional telecommunications, enabling the company to overtake competition to become Australia’s strongest telecommunications brand, and fourth strongest brand overall."

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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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