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O2 grows connections to 34.8m, with revenue up 1.5pc for Q1

Paul Lipscombe
May 7, 2020

Growth in MVNOs contributes to positive first quarter for the operator

O2 has grown its customer base by 6.3 per cent year-on-year to 34.8 million as the operator announced its first quarter figures for the year.

The customer base includes total connections from O2 and its MVNOs including Tesco Mobile, Sky Mobile and Lycamobile.

O2, which has also today (May 7) confirmed a merger with Virgin Media, that total revenue is up 1.5 per cent YoY.

Revenue for the first quarter reached £1.498 billion, with O2 highlighting growth MVNO revenues and higher value handset revenues.

CapEx also grew in the first quarter by 17.8 per cent to £190 million, with OIBDA up 1.1pc.

While contract churn was 1.0 per cent for the quarter.


In O2’s latest financials report the operator also reflected on the coronavirus lockdown.

O2 revealed that its network has carried up to 60 per cent additional voice traffic since March 17.

During the lockdown O2 has provided the O2 Arena as an NHS training facility and zero-rated access to websites offering financial, health and wellbeing guidance for its customers.

O2 CEO Mark Evans said: “We have always played a key role in the keeping the UK’s customers, businesses and public services connected.

“We will continue to use our position to support the nation, working around the clock to deliver the best network for the UK at this challenging time.”

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