Optus 1QFY20 earnings update: 5G and Optus Sport will drive growth…

On 8th August 2019 Optus announced its 1QFY20 earnings.

Revenues were up driven by mobile handset sales and NBN migration payments, in spite of a drop in mobile service revenues and continued weakness in the enterprise segment.

5G and Optus Sport remain the key growth areas going forward.

1QFY20 Optus key financials (A$mn)

On 8th August 2019, Optus announced its 1QFY20 earnings update. Some of the key highlights from the announcement included:

  • Revenue of A$2,250mn, up 3.3% over 1QFY19 driven by a near 40% increase in mobile equipment and leasing revenues

  • Operating EBITDA increased 5% to A$687mn driven by higher NBN migration payments and lower staff, and selling and administrative costs

  • Overall net profit of A$105mn, down 32% over 1QFY19 driven by higher depreciation and a subdued contribution from Optus Business

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