Virgin Media Reports Successful Third Quarter
The United Kingdom's second largest pay-television company just released a report that seems to indicate continued growth and success as they saw revenue grow by 2.8 percent in the most recent quarter. Virgin Media
has had a pretty good year so far and has seen a pretty steady if less than spectacular rise in money made. According to the report, released late last week, Virgin Media (News
) saw its revenue rise to a whopping $1.65 billion.
That particular rise in revenue can apparently be attributed to the amount of customers the company was able to bring in. The rise in customers is especially impressive when you look at those numbers compared to just a year ago. In the third quarter of this year, Virgin Media
saw an additional 39,500 customers. That is compared to an increase of just 6,300 new customers in the third quarter of 2011. While they are bringing in new customers, they are also managing to hold on their current customers.
"The truth is today, [customers] look around and say they can't get much better for less," Chief Financial Officer Eamonn O'Hare said
in an interview. One of the ways the company has been luring in new customers while holding their old ones is by offering up a broadband Internet service. The company said that it has worked hard to offer up faster Internet connections and that has led to 44 percent of their new broadband customers choosing the fastest broadband product.
On the flip side, Virgin Media has seen a slight decline in the mobile market revenues. Virgin Media continues to be one of the top cable companies in the country because they are able to maintain success by having their fingers in a couple of different pies. The company is seeing rises in some areas, while others struggle a little in the short term.
Edited by Rachel Ramsey
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