Optus chief executive Allen Lew says a record quarter for mobile subscriber growth, driven by the launch of its English Premier League service, vindicates the telecommunications company's long-term strategy despite a hit to profits.
The Singtel-owned telco record a 20.3 per cent drop in net profit in the three months to September 30 to $184 million, compared with the same period last year. Revenue fell 8.7 per cent to $2.1 billion. Earnings before interest, tax, depreciation and amortisation dropped 10.3 per cent to $633 million.
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Max Mason covers financial crime, courts and corporate wrongdoing. A Walkley Award winner, Max’s journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com
