Virgin Media O2 returns to profitability as network upgrades continue

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Virgin Media O2 returned to revenue growth and posted increased revenues during the second quarter of 2022, as it continued its momentum a year after its merger.

The company added 13,000 new mobile contracts during the three-month period, bringing the total number to 16 million, a figure which rises to 33 million when prepaid and IoT connections are added into the mix.

Meanwhile, the firm added 8.000 new fixed line subscribers, bringing the customer base up to 5.8 million. Low churn and increased prices resulted in a 0.2% increase in revenues to £2.5 billion and a 4 per cent rise in underlying profitability – the …

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