Everything Everywhere sees revenue and profits slide but adds customers

first_img whatsapp Everything Everywhere, the entity formed by the merging of France Telecom’s Orange and Deutsche Telekom’s T-Mobile, yesterday reported weak results for the last quarter.Its revenue dropped two per cent in the nine months from April last year – when the merger went through – from £5.4bn to £5.3bn. Underlying profit was £1bn, down from £1.1bn.It saw its mobile service revenues grow 1.3 per cent in the quarter. However, it lagged behind Vodafone, which saw mobile service revenues jump seven per cent in the same period. O2 is also expected to show it grew at a faster rate when it reports its fourth quarter results on Friday.Sources close to the firm said Everything Everywhere has invested heavily in bringing customers from pay as you go packages to contracts. It added 300,000 contract customers in the fourth quarter but lost out on 187,000 pay as you go users, leaving net adds of 113,000 compared to 195,000 at Vodafone. The group said it was on track to deliver £3.5bn of planned savings by 2014. Share KCS-content Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap Tags: NULLcenter_img Show Comments ▼ Everything Everywhere sees revenue and profits slide but adds customers by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”Wanderoam Wednesday 23 February 2011 8:38 pm whatsapplast_img read more