Virgin Mobile Reports Revenue Growth
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Virgin Mobile Holdings PLC reported an 18 percent surge in revenue but lower net profits for the half year Thursday as the costs of its listing on the London Stock Exchange this summer hurt the bottom line.
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BEING - China Mobile may form a joint venture with Britain&#39;s Virgin Group to provide mobile communication service. Virgin Group had earmarked US$300 million for a mobile phone joint venture in China, the worlds
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Vodafone Group PLC saw a 6 percent increase in revenue and reduced losses for the year to March 31, but revenue and profitability in some of its core European mobile phone markets is shrinking. The changes are forcing the company to look to new markets for growth.
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Shares in Virgin Mobile fell back below July's float price on Tuesday as analysts and investors interpreted a trading update from the company as a surprise revenue warning.
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(InfoWorld) - Vodafone Group had almost 200 million customers by Dec. 31, but continues to face challenges in the competitive and saturated European market. The operator's European business stagnated, with fourth-quarter revenue growing just 0.9 percent year on year, excluding the effect of acquisitions. Worldwide, its growth excluding acquisitions totalled 6.1 percent. The company accounts for revenue from partly-owned subsidiaries in proportion to its holding. Vodafone said that despite low growth in Europe, some of its new calling plans, such as one that offers users a lower price for calls made within their home area and others that include fixed-line broadband Internet access, are attracting new customers. Price competition, however, is offsetting that growth. Revenue from Vodafone's operations outside Europe, excluding acquisitions, grew 14.4 percent compared to a year earlier. Egypt, Romania, South Africa, and Turkey showed particularly strong growth during the period, Vodafone said. The operator offered no further insight into itsÂ negotiations to buyÂ a controlling interest in Indian operator Hutchison Essar. The board is continuing to investigate the possibility and will only agree to a deal that meets Vodafone's financial criteria, Vodafone CEO Arun Sarin said during a conference call to discuss the results. U.S. operator Verizon Wireless, in which Vodafone owns a stake, also did well during the quarter, with Vodafone's share of the business acquiring one million new customers. Vodafone is still pleased with its stake in Verizon Wireless, although the company uses a different wireless technology to that used by Vodafone's holdings elsewhere in the world. "There is no concept of our selling our interest there," Sarin said. While rumors have surfaced regularly over the past few years that Verizon Wireless might be considering a major technology change, that's still doubtful, Sarin said. Even Apple'sÂ much anticipated iPhone, which operates on GSM (Global System for Mobile Communications), the technology that competes with Verizon's CDMA (Code Division Multiple Access) network, is unlikely to encourage Verizon to make a change, Sarin said. The migration to fourth-generation networks, which operators will begin to make in the next few years, will probably cement Verizon's choice. "That's the time Verizon Wireless will think about what next generation of technology that they can deploy and of course they'll try to deploy a technology that is as backward compatible as they can," he said. Data services are also paying off for Vodafone. Non-voice average revenue per user was up 62 percent for the quarter compared to the year earlier. Vodafone has attracted 50 percent of its total customers to sign up for Passport, a plan that offers reduced rates on roaming. The European Commission is proposing a regulation that would require operators to reduce their roaming rates. Vodafone doesn't expect the commission to make a final decision until this summer, said Sarin.
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Although most of the significant quarterly gains were the result of the completed merger with BellSouth, AT&T reported continued growth in its wireless revenue.
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Apple reported revenue for the quarter of $2.35 billion, up 37% from the $1.72 billion recorded during last year's fourth quarter.
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British billionaire Richard Branson said his Virgin Group wants to increase flights to India and invest in the Indian domestic carrier business to tap into a fast-expanding passenger market.
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Mobile phone operator MMO2 raises its UK revenue growth target for this year as it gets more customers and existing users spend more.
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AT&amp;T&#160;reported net income of $3.1 billion for the third quarter of 2007, up from $2.2 billion a year earlier, largely due to its&#160;acquisition of BellSouth.AT&amp;T nearly doubled its revenue from a year ago, going from $15.6 billion to $30.1 billion, but those 2006 numbers don&#39;t factor in the BellSouth acquisition and revenue from Cingular Wireless, which AT&amp;T and BellSouth co-owned. The BellSouth deal closed Dec. 29, 2006.AT&amp;T&#39;s revenue was up 3.2 percent from the combined revenue from AT&amp;T, BellSouth, and Cingular in the third quarter of 2006. Comparable earnings per share were $0.50 compared to $0.56 the third quarter of 2006.AT&amp;T&#39;s adjusted third-quarter earnings, which exclude costs and accounting effects associated with the acquisition, were $4.3 billion, or $0.71 per diluted share, up from $2.4 billion, or $0.63 per diluted share, in the third quarter of 2006.AT&amp;T&#39;s third-quarter results were &quot;excellent,&quot; Randall Stephenson, AT&amp;T chairman and CEO, said in a statement. Stephenson cited growth in wireless, broadband, and U-verse TV customers as the reason for a strong quarter.AT&amp;T&#39;s renamed wireless division saw an increase in 2 million customers in the quarter, the company said. The company&#39;s wireless division now has 65.7 million subscribers.AT&amp;T&#39;s merger integration efforts are on schedule, the company said, and cost savings are running ahead of the original estimates. In the first three quarters of 2007, cost savings from the BellSouth merger were about $2.8 billion, and AT&amp;T expects those savings to reach more than $3 billion for the year.Wireless data revenue increased 63.9 percent from last year, driven by increases in consumer and business data usage, including messaging, media bundles, laptop connectivity, and smart phone connectivity, AT&amp;T said.In the broadband space, AT&amp;T&#39;s connections, including DSL (Digital Subscriber Line), AT&amp;T U-verse, and satellite broadband services, increased by 499,000 in the quarter to reach 13.8 million. That&#39;s up 2.2 million, or 18.6 percent, over the past year.
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Australian budget airline Virgin Blue reports a jump in half-year profits and lifts its earnings outlook for the year.
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Virgin Mobile USA, a cell-phone  service used mostly by teenagers and 20-somethings, said on  Tuesday it was giving its customers the option to earn free  calls if they view and respond to ads on their phones.
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Top telecommunications service  provider AT&T Inc.  on Tuesday said its profit and revenue  grew on an adjusted basis, helped by strong growth in its  wireless business.
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British mobile phone giant Vodafone  Group Plc  said on Monday it added a net 4.5 million new  customers in the first quarter of its financial year, and  reiterated its full-year guidance.
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Driven largely by gains in its wireless and data businesses, Verizon Communications' revenue was up 5.5 percent year over year in the fourth quarter of 2007, and net income was up slightly.
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Sold a lot of iPhones in two days AT&amp;T is celebrating after posting another strong quarter - bringing in $29.5bn in revenues and making reported net profit of $2.9bn, up from $1.8bn last year on revenue of $15.8bn.â¦
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Virgin Mobile says user numbers are up 37% on a year ago and it added a record number of subscribers in the latest quarter.