Even as its customer base shrunk, UK communications conglomerate Virgin Media fared well as second-quarter losses decreased.
During the second quarter, Virgin said net loss dropped to $83.3 million down from $750 million in the same period last year when it had to take a $612 million goodwill impairment charge for its mobile properties.
Company revenue declined slightly from $1.6 billion to $1.5 billion due to declining sales in its mobile business, where revenue fell to $213 million.
Virgin's CEO Neil Berkett downplayed the decline in mobile revenue since it ties customers to its other services: TV, broadband and voice.
Broadband continued to be a shining star for Virgin, as average revenue per user on its cable network increased by 3.8% to $72 a month during the second quarter.
Although Virgin raised the price of its cable service, customer churn did not rise above 1.3%. Nonetheless, the operator did lose 26,200 customers in the second quarter.
- Dow Jones/Wall Street Journal has this article
[This article originally appeared in FierceTelecom]