Celcom revenue plunges … and 4 more things you should know
By Goh Thean Eu May 26, 2016
- Decline in Q1 partly due to lower revenue from its value-added services
- Prepaid business also affected after it lost 175,000 customers
IS it the steepest revenue decline the company has ever suffered?
For the first quarter ended March 31, 2016, Celcom Axiata Bhd’s revenue declined by over 13% year-on-year (YoY) to RM1.67 billion. [RM1 = US$0.24]
A look at its past financial results shows that the company has never experienced a YoY decline of over 13% in revenue.
Celcom attributed it to the significant drop in revenue from its value-added services (-19.8% YoY) and voice (-16.4% YoY).
Next Page: A terrible quarter indeed