ITV

Tag: third quarter results

  • Airtel Q3 FY22: 5.4% revenue growth QoQ led by ARPU increase

    Airtel Q3 FY22: 5.4% revenue growth QoQ led by ARPU increase

    Mumbai: Telecom major Bharti Airtel on Wednesday announced its third quarter FY 2022 results. The company has posted quarterly revenues of Rs 29,867 crore, up 18.3 per cent year-on-year backed by strong and consistent performance delivery across the portfolio. It reported net income (after exceptional items) of Rs 830 crore.

    The telecom company’s India business saw quarterly revenues of Rs 20,913 crore which was up by 17.9 per cent YoY. Its India customer base stands at ~356 million.

    Its mobile services revenues were up by 19.1 per cent YoY led by an increase in average revenue per user (ARPU). Its mobile ARPUs increased to Rs 163 during the quarter versus Rs 146 in the same quarter previous year. Mobile data consumption increased by 33.8 per cent YoY at a rate of 18.3 Gb per month.

    Additionally, Airtel’s 4G customers increased by three million on a quarter-on-quarter basis to reach 195.5 million and account for 61 per cent of its total base.

    The company’s home business saw 40.4 per cent YoY growth led by strong customer additions. Home business witnessed 341,000 customer net additions in the quarter to reach a total base of 4.16 million. Its Digital TV customer base stood at 18.1 million during the same period. “Digital TV continues to improve its market position with steady revenue and customer base,” said the statement.

    Airtel Business revenues were up by 13.4 per cent YoY backed by strong demand for data portfolio and emerging businesses.

    During the quarter, Google announced that it would invest $1 billion in Airtel as part of its Google for India Digitization Fund. Airtel also announced a joint venture with Hughes Communications to become the largest satellite service operator in India.  

    “We have delivered another quarter of sustained performance across all our business segments,” said Bharti Airtel India and South Asia MD and CEO Gopal Vittal. “Overall sequential revenue growth was at 5.4 per cent and EBITDA margins came in at 49.9 per cent. The recent tariff revision for mobile services has gone down well and we are exiting the quarter with an industry leading ARPU of Rs 163. The full impact of the revised mobile tariffs, however, will be visible in the fourth quarter. Our Enterprise, Homes and Africa business continue to deliver strongly, with steady increase in contribution to the overall mix of the portfolio. Our balance sheet is robust and we are now generating healthy free cash flows. This has enabled us to recently prepay some of our spectrum liabilities to the Government thereby reducing the interest burden.”

    He further stated, “Google’s recent investment is a strong validation of Airtel’s role in being a leading pioneer of India’s digital revolution. Our emerging digital services portfolio across Airtel IQ, AdTech, digital marketplace, Nxtra and digital banking positions us well to build an Airtel of the future.”

  • ViacomCBS quarterly global streaming revenues cross $1 billion mark

    ViacomCBS quarterly global streaming revenues cross $1 billion mark

    Mumbai: ViacomCBS global streaming revenue surpassed $ one billion for the first time in the third quarter 2021 with a growth of 62 per cent year-on-year. The company added 4.7 million net subscribers during the quarter reaching nearly 47 million subscribers. This includes the streaming platforms Paramount+, Showtime, BET+ and Noggin.

    The company saw 79 per cent growth YoY in streaming subscription revenue. It generated 48 per cent YoY growth in streaming advertising revenue, largely driven by Pluto TV, which grew global monthly active users (MAUs) to over 54 million and revenue by 99 per cent YoY. In terms of monetization, global streaming subscription ARPU increased 8 per cent year-over-year.

    The company’s total revenue was up by 13 per cent for the quarter ended 30 September at $6.6 billion. The pace of subscriber growth has slowed compared to the previous quarter when the company added 6.5 million new additions across its streaming services.  

    The company attributed the growth of subscribers and consumption on Paramount+ on its diverse global content offering including “A Quiet Place Part II,” “Paw Patrol: The Movie,” the return of the NFL, and the New CBS Fall Season.

    “The strength and momentum of both Paramount+ and Pluto TV are clearly evident, and demonstrate the power of the strategy we laid out at our investor event earlier this year,” said ViacomCBS president and chief executive officer Robert Bakish. “To that end, I want to remind you of three key enablers driving the ViacomCBS strategy, all of which we’re seeing in action. First, an incredible breadth and depth of compelling content which is critical to attracting and retaining consumers globally; second, robust distribution and marketing, which ensures we can build the broadest reach and awareness; and third, a strong and flexible financial engine to enable streaming investment, drive RoI and maximize shareholder value.”

    Adding further, he said, “As the leading free ad-supported streaming TV service on the market, Pluto TV is winning in both scale and engagement, and it will be a $1 billion revenue business this year.”