Optus Q3 results: Mobile up, fixed-line down

A healthy mobile business has boosted Q3 financial results for telecommunications stalwart, Optus.

The SingTel (ASX:SGT) subsidiary posted revenue growth of 5 per cent to $2.3 billion in the quarter ending December 31, 2009, compared with the previous quarter. Pre-tax profit hit $529 million, up 4 per cent.

Mobile sales revenue was up 11 per cent to $1.4bn and reached double digits in terms of overall contribution. Optus 3G customers increased 9 per cent to 3.34 million subscribers compared to Q2. The customer growth was driven by revamped post-paid offerings including new wireless broadband plans, smartphone plans and unlimited usage 'Timeless' plans, according Optus in an ASX statement.

Meanwhile, business and wholesale fixed-line services dropped 3 per cent to $500m. Overall, consumer and SMB fixed-line also recorded a similar performance, down 3 per cent to $346m.

In a statement, Optus blamed the results on cautious corporate spending and continued exit of unprofitable resale. On-net fixed-line customers, which use the telco’s infrastructure directly instead of third-party wholesale networks, have increased slightly.

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