Wednesday, 12 August 2009

Virgin Mobile USA releases Q2 financial data – USA

Virgin Mobile USA, which is in the process of being acquired by Sprint, has published its Q2 financial figures. Although the sale is being challenged by some shareholders.

The Q209 figures have shown that although the MVNO’s sales have remained almost the same as in Q208 its profits rocketed from USD 5,500,000 to USD 21,800,000 over the same period, due in part to the increase in customers signing up to monthly contracts which produce 15 times more revenue than pre-pay customers, according to Virgin Mobile USA Chief Executive Officer Dan Schulman.

The MVNO, which introduced a USD 50 unlimited plan recently, accounted for 21% of all new subscriptions in May and June, lowering the average revenue per user (ARPU) figure to USD 18.98.