Telecoms giant Telefónica has published results for the first quarter of 2012, including details of the O2 network run by Telefónica UK.
O2 UK ended the quarter with 22.3 million mobile customers, having seen ‘pay monthly’ contract customers increase by 5% to account for 50% of the total mobile customer base. However quarterly revenue fell by 6% year-on-year to 1,719 million Euro (£1,382m), blamed on a difficult trading environment and mobile termination rate cuts.
Figures for Tesco Mobile, which aren’t included in O2’s total, showed an 18% year-on-year increase to 3 million users.
Telefónica’s overall revenue was up 0.5% year-on-year to 15,511 million Euro. Its profit measurement of operating income before depreciation and amortisation (OIBDA) was down 8.8% on the same quarter in 2011.
César Alierta, Telefónica’s chairman, said “Our earnings for the first three months of 2012 reflect the strategic priorities set for the full year and the success of the company’s shift in commercial strategy, which began in the second half of 2011. These results are in line with internal estimates and thus allow us to reiterate our financial and operational guidance announced for 2012.”