Operating Profit of Africa's Largest Mobile Operator MTN Jumps 33% in Q1 as Nigeria and Ghana Drive Growth
Operating Profit of Africa's Largest Mobile Operator MTN Jumps 33% in Q1 as Nigeria and Ghana Drive Growth
Key details on the Q1 performance of South Africa's MTN:
⦁ Total service revenue: $2.573 billion (+19.8%).
⦁ Total operating profit: $1.173 billion (+33%).
⦁ Subscribers: 296.8 million (+4.7% YoY).
MTN's Q1 performance in Nigeria, where telecom operators implemented price adjustments:
⦁ Service revenue: $709.9 million (+40.4%).
⦁ Operating profit: $333.1 million (+65.8%).
⦁ Subscribers: 84.1 million (+4.1% YoY).
MTN's Q1 performance Ghana, where e-levy tax on Mobile Money transactions was removed:
⦁ Service revenue: $360.4 million (+39.5%).
⦁ Operating profit: $207.6 million (+45%).
⦁ Subscribers: 29.2 million (+5.2% YoY).
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