Even as its customer base shrunk, UK communications conglomerate Virgin Media fared well as second-quarter losses decreased.
During the second quarter, Virgin said net loss dropped to €58.6 million -- down from €528 million in the same period last year when it had to take a €430 million goodwill impairment charge for its mobile properties.
Revenue declined slightly from €1.12 billion to €1.05 billion due to declining sales in its mobile business, where revenue fell to €150 million.
Virgin's CEO Neil Berkett downplayed the decline in mobile revenue since it ties customers to its other services, such as TV, broadband and voice.
Broadband continued to be a shining star for Virgin, as ARPU on its cable network increased by 3.8% to €50 a month during the second quarter.
Although Virgin raised the price of its cable service, customer churn did not rise above 1.3%. Nonetheless, the operator did lose 26,200 customers in the second quarter.
For more:
- Dow Jones/Wall Street Journal has this article
[This article originally appeared in FierceTelecom]
